Novo Nordisk said the side effects in trials so far for its experimental obesity drug CagriSema were similar to its GLP-1 drugs already on the market, and reiterated its expectation the new injection will deliver 25% weight loss.

After rising in premarket trading, Novo Nordisk's U.S.-listed shares fell after the market opened Wednesday as its third-quarter sales fell short of estimates despite continued growth form weight-loss drugs Ozempic and Wegovy.

Novo Nordisk A/S shares rose as surging sales of the blockbuster weight-loss treatment Wegovy reassured investors after rival Eli Lilly & Co. reported disappointing sales of its obesity treatment last week.

Novo Nordisk reported forecast-beating third-quarter sales of its popular Wegovy weight-loss drug on Wednesday, reassuring investors worried that demand was slowing and it could lose the race in the fast-growing obesity drug market.

The company narrowed its full-year guidance as its blockbuster weight-loss drug soars in popularity.

Sales of Novo Nordisk’s (NVO) blockbuster weight loss drug Wegovy continue to soar, surpassing Wall Street expectations. The Danish pharma giant posted its third-quarter earnings report early Tuesday morning and boasted sales figures blowing past analysts’ projections.

Novo Nordisk said on Wednesday it is aware of 10 deaths and 100 hospitalizations resulting from people taking compounded copies of its weight-loss and diabetes drugs, and the CEO said he is alarmed by the risks of the unregulated copycat versions.

A mixed sales report for Novo Nordisk’s GLP-1 megablockbuster drugs failed to quiet concerns Wednesday that investors may have overestimated the market for its new weight-loss and diabetes medicines.