A Research Study to See if Kidney Damage in People With Chronic Kidney Disease and Type 2 Diabetes Living With Overweight or Obesity Can be Reduced by CagriSema Compared to Semaglutide, Cagrilintide and Placebo

Inclusion Criteria:

• Male or female.

• Age 18 years or above at the time of signing the informed consent.

• Diagnosed with type 2 diabetes mellitus ≥ 180 days before screening.

• Body mass index (BMI) ≥ 27.0 kilograms per meter square (kg/m^2) at screening. BMIwill be calculated in the eCRF (electronic case report form) based on height andbody weight at screening.

• HbA1c less than or equal to (≤) 10.5% (91 millimoles per mole [mmol/mol]) asassessed by central laboratory at screening.

• Kidney impairment defined by serum creatinine and cystatin C-based eGFR ≥ 15 and < 90 milliliters per minutes per 1.73^m^2 (mL/min/1.73 m^2) (CKD-EPI 2021) as assessedby central laboratory at screening.

• Albuminuria defined by UACR ≥ 100 and < 5000 milligram per gram (mg/g) as assessedby central laboratory at screening.

• Treatment with maximum labelled or tolerated dose of an angiotensin convertingenzyme (ACE) inhibitor or an angiotensin II receptor blocker (ARB), unless suchtreatment is contraindicated or not tolerated, in the opinion of the investigator.Treatment dose must be stable for at least 30 days prior to screening.

Exclusion Criteria:

• Female who is pregnant, breast-feeding or intends to become pregnant or is ofchildbearing potential and not using a highly effective contraceptive method.

• Congenital or hereditary kidney diseases including polycystic kidney disease,autoimmune kidney diseases including glomerulonephritis or congenital urinary tractmalformations.

• Use of any glucagon-like peptide-1 receptor agonist (GLP-1RA) (including medicationwith GLP-1RA activity, e.g., GIP/GLP-1RA) or amylin analogue within 60 days prior toscreening.

• Myocardial infarction, stroke, transient ischaemic attack, or hospitalization forunstable angina pectoris within 60 days before screening.

• Chronic or intermittent haemodialysis or peritoneal dialysis within 90 days beforescreening.

• Uncontrolled and potentially unstable diabetic retinopathy or maculopathy. Verifiedby an eye 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.

• Presence or history of malignant neoplasms or in situ carcinomas (other than basalor squamous cell skin cancer, low-risk prostate cancer, or in-situ carcinomas of thecervix or carcinoma in situ/high grade prostatic intraepithelial neoplasia (PIN)within 5 years before screening.