A Research Study Comparing How Well Different Doses of the Medicine NN0519-0130 Lower Blood Sugar in People With Type 2 Diabetes

Inclusion Criteria:

• Female of non-childbearing potential, or male.

• For United States (US) only: Female of childbearing potential using highly effectivenon-systemic methods of contraception with low user-dependency and willingness tocontinue using it through-out the study or male.

• Age 18-75 years (both inclusive) at the time of signing the informed consent.

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

• Stable daily dose(s) more than or equal 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 sodium-glucoseco-transporter 2 (SGLT2) inhibitor.

• Glycated haemoglobin (HbA1c) of 7.5-10.0% (58-86 millimoles per moles (mmol/mol)) (both inclusive) as assessed by central laboratory at screening.

• Body mass index (BMI) greater than or equal 23.0 kilograms per meter square (kg/m^2).

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.