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 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.

CagriSema, which underperformed expectations in its first Phase 3 test, will be studied at different doses and for longer duration in the new trial.

Novo Nordisk's CEO said on Wednesday side-effects were not a problem in the trial of its next-generation obesity drug candidate CagriSema as the company considers dosage escalation and trial length for a new study.

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

Novo Nordisk on Wednesday said its new trial of its next-generation obesity drug candidate CagriSema will look at dose escalation and trial length to further show the drug's potential, after data in December disappointed the market.

Novo’s newest GLP-1, CagriSema, is the first big test of Novo Nordisk’s future as the leader in the obesity treatment market. The drug is more potent than Ozempic and Wegovy, expanding treatment to heavier patients while perhaps reducing treatment times for other individuals.