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.

Novo Nordisk continues to deliver double-digit revenue and profit growth, driven by both its diabetes and obesity drug franchises. Learn more on NVO stock here.