Ozempic and Wegovy maker Novo Nordisk quieted Wall Street's concerns with its fourth-quarter results and 2025 outlook.

Novo Nordisk reported Q4 sales of $11.96 billion, beating estimates. The company plans a new phase 3 trial for CagriSema in 2025, with results expected in Q1.

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.

The drugmaker expects the regulator to remove Wegovy and Ozempic from its shortage list, blocking other companies from legally selling cheap knockoff versions.

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

Novo Nordisk said on Wednesday it plan to file its experimental next-generation obesity drug CagriSema for regulatory approval during the first quarter of next year, slightly later than its previous expectation to file towards end-2025.