The drugmaker expects the regulator to remove Wegovy and Ozempic from its shortage list, blocking other companies from legally selling cheap knockoff versions.

Novo Nordisk's U.S.-listed shares are surging 9% Friday morning after the Danish drugmaker reported early stage results for its amycretin weight-loss drug.

In the first half of 2025, Ozempic developer Novo Nordisk in Bagsværd, Denmark, expects results from a second phase III trial of its experimental drug CagriSema — a combination of semaglutide and a medicine called cagrilintide. People on CagriSema lost about 23% of their body weight in a 68-week study, outperforming both drugs when taken alone.

Investors are upset at a lack of clarity over the results of Wegovy successor CagriSema after trials published in December.

Novo’s newest GLP-1, CagriSema, is the first big test of Novo Nordisk’s future as the leader in the obesity treatment market. The drug is more potent than Ozempic and Wegovy, expanding treatment to heavier patients while perhaps reducing treatment times for other individuals.

Novo Nordisk reported Q4 sales of $11.96 billion, beating estimates. The company plans a new phase 3 trial for CagriSema in 2025, with results expected in Q1.

The weight-loss drugmaker's Wegovy and Ozempic are among the most closely watched new medications in recent history, but face serious competition from Eli Lilly’s Zepbound and Mounjaro.