Pfizer Diabetes Drug Scores Weight Loss Like Ozempic

Pfizer Inc.'s diabetes drug resulted in weight loss similar to that of Novo Nordisk's Ozempic in a mid-stage study testing it in patients with type 2 diabetes, according to a study published in JAMA Network.

Shares of Pfizer rose about 4.5% following the news.

Data confirms results that were published last year by Pfizer.

The U.S. drugmaker's danuglipron belongs to a class of drugs which mimic the gut hormone glucagon-like peptide-1 (GLP-1) that work by suppressing appetite.

Danuglipron could help Pfizer enter a potential $100 billion weight-loss drug market.