The Danish maker of Ozempic and Wegovy reported a 25 percent increase in sales to $40.6 billion, but said it expected slower growth this year.

Novo Nordisk defended its next-generation obesity drug candidate CagriSema on Wednesday following late-stage trial data published in December that disappointed investors and wiped $125 billion from its market value.

Investors are upset at a lack of clarity over the results of Wegovy successor CagriSema after trials published in December.

Shares of Novo Nordisk ( NVO 4.37%) were moving higher on Wednesday. The company's stock gained 4.9% as of 1:50 p.m. ET, but gained as much as 5.8% earlier in the day. The leg up comes as the S&P 500 ( ^GSPC 0.26%) gained 0.2%, and the Nasdaq Composite ( ^IXIC 0.02%) lost 0.1% on the day.

Shares of Google parent Alphabet slump after quarterly revenue misses analysts’ expectations, AMD’s data-center revenue disappoints, a report says China is considering a probe into Apple’s App Store fees,