A Research Study Comparing How Well Different Doses of the Medicine NNC0487-0111 Lower Blood Sugar in People With Type 2 Diabetes

Inclusion Criteria:

• Male or female, aged 18-75 years (both inclusive) at the time of signing theinformed consent.

• Diagnosed with type 2 diabetes mellitus greater or equal to 180 days beforescreening.

• Stable daily dose(s) greater or equal to 90 days before screening of the followingantidiabetic drug(s) or combination regimen(s) at effective or maximum tolerateddose as judged by the investigator: metformin with or without SGLT2 inhibitor.

• HbA1c of 7.0-10.0 procent (53-86 mmol/mol) (both inclusive) as assessed by centrallaboratory at screening.

• Body mass index between greater or equal to 23.0 and below 50.0 kg/m^2.

• Able and willing to adhere to the protocol including wearing a continuous glucosemonitoring (CGM) device provided for the study, as judged by the investigator.

Exclusion Criteria:

• Treatment with any medication for the indication of diabetes or obesity other thanstated in the inclusion criteria within 90 days before screening. However, shortterm insulin treatment for a maximum of 14 consecutive days and prior insulintreatment for gestational diabetes are allowed.

• Uncontrolled and potentially unstable diabetic retinopathy or maculopathy. Verifiedby a fundus examination performed within 90 days before screening or in the periodbetween screening and randomisation. Pharmacological pupil-dilation is a requirementunless using a digital fundus photography camera specified for non-dilatedexamination.

• Known hypoglycaemic unawareness as indicated by the investigator according toClarke's questionnaire question.