Lilly's weight-loss medications Mounjaro and Zepbound are gaining market share on Novo's Wegovy and Ozempic, but investors remain unconvinced.

Rather, it was the Danish pharmaceutical company's No. 1 rival. Appreciative investors bid up Novo Nordisk's stock in a mini-rally that extended into Friday; the company's share price added nearly 5% during today's session.

(Reuters) -Shares in Novo Nordisk rose 13.6% on Thursday after trial data from Eli Lilly's experimental weight-loss pill fell short of expectations, boosting investor confidence in the Danish drugmaker's market-leading obesity treatment.