Novo Nordisk stock was dropping on Wednesday after Roche said it had licensed a promising obesity drug in a deal that could cost it up to $5.3 billion.U.S.-listed shares of Novo Nordisk were down 5.2%.

Novo Nordisk on Monday revealed weaker-than-expected data from a second late-stage trial of its obesity drug candidate CagriSema, knocking shares and stoking worries that rival Eli Lilly may be gaining an edge over the company in the weight-loss drugs market.

New trial data showed the drug helped obese or overweight type 2 diabetics lose an average 15.7% of their weight, when an earlier study recorded 22.7%.