Inclusion Criteria:

1. Male or female, age ≥18 years at the time of signing informed consent.

2. Body mass index (BMI) ≥28 kg/m^2 at screening, OR BMI ≥24 kg/m^2 at screening with
the presence of at least one of the following weight-related complications:

- Hypertension (defined as repeated, i.e. at least 3 measurements in resting
condition, systolic blood pressure (SBP) values of ≥140 mmHg and/or diastolic
blood pressure (DBP) values of ≥90 mmHg in the absence of anti-hypertensive
treatment, or intake of at least 1 anti-hypertensive drug to maintain a
normotensive blood pressure)

- Dyslipidaemia (defined as at least 1 lipid-lowering treatment required to
maintain normal blood lipid levels, or low density lipoprotein (LDL)
cholesterol ≥160 mg/dL (≥4.1 mmol/L), or triglycerides ≥150 mg/dL (≥1.7
mmol/L), or high density lipoprotein (HDL) cholesterol <40 mg/dL (<1.0 mmol/L)
for men or HDL cholesterol <50 mg/dL (<1.3 mmol/L) for women)

- Obstructive sleep apnoea

- Cardiovascular disease (CVD) (e.g. heart failure (HF) with New York Heart
Association (NYHA) functional class II-III, history of ischaemic or
haemorrhagic stroke or cerebrovascular revascularisation procedure [e.g.
carotid endarterectomy and/or stent], myocardial infarction (MI), coronary
artery disease, or peripheral vascular disease)

- Type 2 diabetes mellitus (T2DM) diagnosed at least 180 days prior to screening
(glycosylated haemoglobin A1c (HbA1c) ≥6.5% (48 mmol/mol) and <10% (86
mmol/mol), and fasting plasma glucose (FPG) ≤11.1 mmol/L measured by the
central laboratory at screening

--- Currently treated with either: diet and exercise alone or stable treatment
(for at least 3 months prior to screening) with metformin, sodium-glucose
cotransporter-2 inhibitor (SGLT2i) inhibitor, acarbose, sulfonylurea, or
glitazone as single agent therapy, or up to 3 anti-hyperglycaemia medications
(metformin, SGLT2i, acarbose, sulfonylurea, or glitazone) according to local
label

- Non-alcoholic steatohepatitis (NASH), as assessed in medical records by
histological liver assessment (within the last 6 months)

3. History of at least one self-reported unsuccessful dietary effort to lose body
weight

4. Signed and dated written informed consent in accordance with International Council
for Harmonisation of Technical Requirements for Pharmaceuticals for Human Use-Good
Clinical Practice (ICH-GCP) and local legislation prior to admission to the trial

5. Woman of childbearing potential (WOCBP) must be ready and able to use highly
effective methods of birth control per ICH M3 (R2) that result in a low failure rate
of less than 1% per year when used consistently and correctly. A list of
contraception methods meeting these criteria and instructions on the duration of
their use will be provided in the participant information.

Further inclusion criteria apply.

Exclusion Criteria:

(A) Obesity:

1. Body weight change (self-reported) >5% within 3 months before screening.

2. Treatment with any medication for the indication obesity within 3 months before
screening.

3. Previous or planned (during the trial period) treatment for obesity with surgery or
a weight loss device, or prior surgery of the GI tract that could interfere with
body weight The following are allowed: (1) liposuction and/or abdominoplasty, if
performed >1 year before screening, (2) lap banding, if the band has been removed >1
year before screening, (3) intragastric balloon, if the balloon has been removed >1
year before screening, (4) duodenal-jejunal bypass sleeve, if the sleeve has been
removed >1 year before screening, (5) appendectomy, (6) simple hernia repair, or (7)
cholecystectomy

4. Have obesity induced by other endocrinologic disorders (for example, Cushing
Syndrome) or diagnosed monogenetic or syndromic forms of obesity (for example,
melanocortin 4 receptor deficiency, leptin deficiency, or Prader Willi Syndrome) (B)
Diabetes-related for participants with T2DM:

5. Treatment with any medication for the indication of T2DM other than stated in the
inclusion criteria within 3 months before screening (i.e. insulin, amylin analogues,
glucagon-like peptide-1 receptor (GLP- 1R)) agonists, GLP-1R
agonist/insulin/glucose-dependent insulinotropic polypeptide (GIP) combinations, and
dipeptidyl peptidase 4 inhibitor (DPP-4i))

6. New initiation of any other glucose-lowering investigational drug within 3 months
prior to screening for this trial

7. Uncontrolled and potentially unstable diabetic retinopathy or maculopathy, verified
by an eye examination within 3 months prior to screening or in the period between
screening and randomisation Further exclusion criteria apply.