Eli Lilly said patients taking its obesity drug Zepbound lost 47% more weight than those who were given Novo Nordisk's Wegovy in a study.

Eli Lilly & Co. Inc.’s stock rose 2.3% Wednesday, after the company said its Zepbound weight-loss drug was more effective than rival Novo Nordisk’s Wegovy in a head-to-head study. Zepbound achieved an average weight loss of 20.

Shares of Eli Lilly climbed early Wednesday after the drugmaker detailed a study showing that its blockbuster weight-loss drug Zepbound helped patients shed more pounds than Wegovy from rival Novo Nor