Pfizer shares jump 4% after diabetes drug shows weight-loss results

Pfizer
PFE,
+5.38%
stock was up 4.2% on Monday after a study of its diabetes treatment danuglipron found that a high dose of the drug reduced body weight by more than nine pounds over 16 weeks. The research, circulated by the Journal of the American Medical Association, suggests that the drug may be as effective as the Novo Nordisk
NVO,
-0.01%
weight-loss injection Ozempic. A phase 3 trial found that participants taking Ozempic lost nearly 10 pounds after 30 weeks. Obesity affects more than 40% of U.S. adults and is linked to many serious conditions, including cardiovascular disease and type 2 diabetes.