Novo Nordisk A/S slumped after a pill from rival Eli Lilly & Co. helped patients shed weight and control blood sugar about as well as its injected blockbuster Ozempic.

Nearly two years after reporting successful results from a phase 3 trial of its oral version of injected obesity treatment Wegovy, Novo Nordisk has asked the FDA to approve it. | Nearly two years after reporting successful results from a phase 3 trial of its oral version of injected obesity treatment Wegovy,

The implications for Eli Lilly and Novo Nordisk seem pretty clear: The immediate removal of a rival for the massive revenues they've been raking in from the GLP-1 market, which helped lift Lilly past $45 billion in total revenue last year, and pushed Novo past $44 billion.