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Diabetes Drug's Results Push Lilly to Look at Obesity Too

  • Lilly says weight reduction is significant in midstage study
  • Drugmaker plans broad advanced trials; rival Novo slides
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Eli Lilly & Co. said an experimental diabetes medicine helped cut patients’ weight and blood-sugar levels in a study, spurring the U.S. drugmaker to consider its potential in related ailments such as obesity.

The drug showed an average reduction of as much as 12.7 percent in weight and up to 2.4 percent in blood sugar in the midstage research, Lilly said in a statement Thursday. Shares of rival Novo Nordisk A/S fell as much as 7.2 percent in Copenhagen trading, the most since February, after the results were released. Lilly rose 4.2 percent to $113.10 in New York before U.S. exchanges opened.