Novo Nordisk, maker of weight loss drug Wegovy, says CEO Lars Fruergaard Jorgensen is leaving the company by "mutual agreement."

FRANKFURT, Germany (AP) — Danish pharmaceutical company Novo Nordisk A/S, maker of blockbuster weight loss drug Wegovy, said Friday its CEO was stepping down by “mutual agreement” with the company's board of directors, citing “recent market challenges” and a steep decline in the company's share price.

Eli Lilly said on Sunday its drug Zepbound was superior to Novo Nordisk's Wegovy across five weight-loss targets such as reducing waist circumference, citing data from a head-to-head trial. The data is the first head-to-head trial comparing the wildly popular medicines,