Novo Nordisk’s stock dives as new weight loss drug disappoints in a late-stage trial, which gave a boost to Eli Lilly shares.

Shares in Danish pharmaceutical giant Novo Nordisk, maker of diabetes and weight-loss treatments Ozempic and Wegovy, plunged on Friday after it announced disappointing results of a new drug study.

For many people, the holidays mean large family dinners with filling sides, sweet treats, and festive drinks — all things for which weight-loss drugs are designed to reduce cravings.

When you think of a top weight loss drug, chances are that Ozempic is the name that first comes to mind. Although it is approved for diabetes (Wegovy is the equivalent version, which is approved for weight loss),