Eli Lilly said on Sunday its drug Zepbound was superior to Novo Nordisk's Wegovy across five weight-loss targets such as reducing waist circumference, citing data from a head-to-head trial. Lilly reported in December that its obesity drug had already met the main goal,

Novo Nordisk’s oral Wegovy pill for chronic weight loss is under FDA review. If approved, it would be the first oral GLP-1 for obesity.

Investors are worried Novo Nordisk's competition with Eli Lilly is heating up and that the first-to-market GLP-1 leader is losing ground.