Shares fell after Eli Lilly announced results of a new pill that could rival the weight-loss potential of the Danish giant’s blockbuster shots.

Novo Nordisk A/S slumped after a pill from rival Eli Lilly & Co. helped patients shed weight and control blood sugar about as well as its injected blockbuster Ozempic.

Eli Lilly and Novo Nordisk dominate the billion-dollar weight loss drug market. Lilly has announced positive trial results from a candidate that could be a game changer in this area of high demand. Patients self-administer,