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's U.S.-listed shares fell Monday morning following the release of data for a new phase 3 clinical trial of its in-development weight loss drug CagriSema.

Novo Nordisk has reported the second phase 3 trial of its new obesity hopeful CagriSema but, as with the first, the topline weight-loss result has sent its shares into a sharp decline.