Japan’s Eisai saw an 11% share drop, marking its largest one-day fall in three years after the European Union’s drug regulator rejected its Alzheimer’s treatment, Leqembi. The rejection was due to concerns about serious brain swelling outweighing the drug’s minor cognitive benefits.

Swiss drugmaker Roche is expediting the development of its anti-obesity drugs in a bid to rival industry leaders Eli Lilly and Novo Nordisk. This move comes as the weight-loss drug market is surging, with experts projecting sales to reach up to $150 billion by the early 2030s.

(With inputs from agencies.)