(Bloomberg) -- The European Union’s drug regulator found no added risk of suicide or self-harm for people taking a popular new class of weight-loss and diabetes medicines that includes Novo Nordisk A/S’s Wegovy and Ozempic.

The evidence doesn’t support a causal link between the drugs and suicidal thoughts and actions, a European Medicines Agency risk assessment committee said Friday. Drugmakers will keep monitoring closely, the EMA said. 

The EMA’s verdict is the latest in a series of reassuring reports on suicide risk for glucagon-like peptide-1, or GLP-1, drugs, which are among the pharma industry’s hottest sellers. The US Food and Drug Administration came to a similar conclusion in January. 

Novo Nordisk shares rose as much as 2% in Copenhagen, the most in about a month. The stock has advanced by more than 60% in the past year, making the Danish company Europe’s largest by market value as demand for weight-loss drugs expands. 

Read more: Ozempic Not Linked to Suicidal Thoughts, FDA Report Finds

The European agency’s probe started in July after reports of suicidal thoughts from people who had been taking the medicines. GLP-1 drugs slow the movement of food through the gut, but are also thought to have a broader impact that includes the brain neurotransmitter dopamine. In November, the EMA widened its investigation. 

The committee analyzed a large study that used electronic health records to track how common suicidal thoughts are in people taking these drugs or others for diabetes or weight loss. The agency also used health records to do its own study on the risk of suicide and self-harm in people with type 2 diabetes. 

The review did not include Eli Lilly & Co.’s Mounjaro and Zepbound, two versions of the same drug sold for diabetes and weight loss, which works differently than Wegovy. 

GLP-1 drugs have been prescribed for diabetes for more than 15 years, although their use for weight loss is more recent. The EMA investigation also included the active ingredients in older treatments like Lilly’s Trulicity and AstraZeneca Plc’s Byetta. 

(Updates with background and details from the third paragraph)

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