Novo Nordisk defended its next-generation obesity drug candidate CagriSema on Wednesday following late-stage trial data published in December that disappointed investors and wiped $125 billion from its market value.

The Danish maker of Ozempic and Wegovy reported a 25 percent increase in sales to $40.6 billion, but said it expected slower growth this year.

Novo Nordisk is under pressure from investors for more information about its next-generation obesity drug candidate CagriSema amid a lack of clarity over trial results that hammered its shares in December.

CagriSema, considered a successor to Wegovy, is Novo Nordisk’s most likely route of gaining GLP-1RA market share back from Eli Lilly.

Novo Nordisk reported turnover from obesity treatments soared by 57 per cent to 65.1 billion Danish kroner last year, largely driven by strong demand in the United States.

Novo Nordisk said on Wednesday it plan to file its experimental next-generation obesity drug CagriSema for regulatory approval during the first quarter of next year, slightly later than its previous expectation to file towards end-2025.

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