本文来自彭博终端，终端用户可运行NSN STYJUDT0AFB4 阅读原文。非终端用户可点击文末 "阅读原文" 预约演示。 全球市场版图日新月异，彭博行业研究（Bloomberg Intelligence）为您的企业战略助力。在 制药与生物技术领域，无论是全球行业资讯与热点，还是制药管线里程碑及催化剂事件、财务 预测…… BI涵盖广泛且深度的关键信息，旨在为您的决策提供可靠且具有竞争力的洞见支撑。 扫描二维码 立即订阅 彭博生物制药双周报 本期主题： 中国药企瞄准肥胖症领域研发管线引起诺和诺德和默克的关注 (彭博行业研究)——中国药企正寻求解决国内肥胖率不断上升的问题，其中信达生物最有希 望推出可比肩诺和诺德和礼来的高效治疗药物，而恒瑞医药、联邦制药等企业或将进一步提 高疗效标准。中国本土研发管线由GLP- 1类药物主导，已引起诺和诺德和默克等国际巨头的 关注，但要让西方药企保持兴趣，还需要持续创新。 中国可能成为减肥药生产企业的必争之地 数据来源：公司文件、彭博行业研究 恒瑞医药或将提高中国减肥药的疗效标准 恒瑞医药HRS9 5 3 1的一项中期研究显示，该药物可使中国成年人体重减轻1 6 . 7%（经安慰 ...

Core Viewpoint - Chinese pharmaceutical companies are focusing on developing treatments for obesity, with significant interest from international giants like Novo Nordisk and Merck in their pipelines [3][4]. Group 1: Market Overview - The obesity rate in China is rising, with projections indicating that by 2030, up to 140 million adults may be affected [4]. - Novo Nordisk's Wegovy and Eli Lilly's Zepbound are expected to be approved in China in Q2 and Q3 of 2024, respectively [5]. - The Chinese market is becoming a battleground for both international and local pharmaceutical companies due to the increasing prevalence of obesity [4]. Group 2: Key Players and Products - Innovators like Innovent Biologics, Hengrui Medicine, and United Pharmaceuticals are leading the development of GLP-1 class drugs, with promising assets such as IBI362, HRS9531, UBT251, and GZR18 [4][5]. - Hengrui's HRS9531 shows a weight reduction of 16.7% in mid-stage studies, outperforming competitors [8]. - United Pharmaceuticals' UBT251 has demonstrated a 16.6% weight loss in early trials, indicating strong potential in the competitive GLP-1 market [9]. Group 3: Competitive Landscape - Over 100 companies globally are developing obesity treatments, with about one-third being Chinese firms, focusing primarily on GLP-1 based therapies [6]. - The competition in the GLP-1 space is intense, with a need for continuous innovation to maintain interest from Western pharmaceutical companies [6]. - The emergence of new therapies, such as triple agonists, may provide opportunities for long-term partnerships with Western firms [6].

Group 1 - The Magnificent 7 index of major US tech stocks rose by 3.18%, closing at 137.78 points [1] - Tesla saw a significant increase of 5.33%, closing at $250.66, with a year-to-date decline of 37.93% in total market value [2] - Amazon's stock increased by 4.25%, closing at $180.53, with a year-to-date decline of 17.71% in total market value [2] - Meta Platforms' stock rose by 4.02%, closing at $520.40, with a year-to-date decline of 11.04% in total market value [2] - Nvidia's stock increased by 3.67%, closing at $102.52, with a year-to-date decline of 23.65% in total market value [2] - Alphabet's Class A shares rose by 2.50%, closing at $155.25, with a year-to-date decline of 17.89% in total market value [2] - Apple's stock increased by 2.24%, closing at $204.22, with a year-to-date decline of 18.36% in total market value [2] - Microsoft's stock rose by 1.97%, closing at $374.05, with a year-to-date decline of 11.08% in total market value [2] Group 2 - AMD's stock increased by 4.72%, closing at $90.33, with a year-to-date decline of 25.21% in total market value [2] - Taiwan Semiconductor Manufacturing Company (TSMC) ADR rose by 4.19%, closing at $157.74, with a year-to-date decline of 19.82% in total market value [2] - Berkshire Hathaway's Class B shares rose by 1.16%, closing at $526.81, with a year-to-date increase of 16.22% in total market value [2] - Eli Lilly's stock increased by 0.21%, closing at $829.24, with a year-to-date increase of 7.60% in total market value [2]

作者丨Manika Premsingh 编译 | 华尔街大事件 2. 在竞争中领先 然而，并非所有医疗保健公司目前都处于优势地位。礼来公司的主要竞争对手诺和诺德公司就是 一个很好的例子。如下图所示，诺和诺德年初至今 32% 的跌幅甚至远超标准普尔 500 指数，而 礼来公司则上涨了约 9%。事实上，甚至可以说， 诺和诺德目前的损失正是 礼来的股价上涨。 自去年11月以来，礼来公司（ NYSE： LLY ）的股价已上涨11%。当时的市盈率反映了这一上 涨趋势。 对 礼来最令人担忧的潜在拖累因素是其近期的法律问题。该公司刚刚起诉了美国政府的卫生资源 和服务管理局（HRSA），原因是其对304B计划的运作方式感到不满。目前， 此事的 进展有限 ， 这只会加剧其股价近期的其他利好因素。以下是五个目前值得入手 礼来的理由。 1. 防守优势 首先要注意的是，防御类股目前表现较好。如下表所示，以 医疗保健精选行业SPDR基金ETF（ XLV ）为代表的医疗保健板块， 今年迄今的跌幅相对有限，而标准普尔500指数（ SP500 ）则 下跌了超过10%。 事实上，公用事业和消费必需品等其他防御性板块今年迄今实际上略有上涨，成为 ...

Core Viewpoint - An analyst from BMO Capital has reduced the price target for Eli Lilly's stock despite positive news regarding its pipeline drug, indicating a complex market sentiment towards the company [1][2]. Company Summary - The new price target for Eli Lilly is set at $900 per share, reflecting a decrease of $110 from the previous assessment, while the analyst maintains an outperform recommendation [2]. - The analyst expressed optimism about Eli Lilly's obesity drug, Zepbound, which is reportedly outperforming Novo Nordisk's Wegovy, the only other FDA-approved GLP-1 treatment for weight loss [3][4]. - Concerns were raised regarding the broader macroeconomic environment, suggesting that economic pressures are impacting the healthcare sector, making Eli Lilly vulnerable [3]. Industry Summary - The pharmaceutical sector is viewed as more resilient compared to other industries amid a volatile global macroeconomy, as many drugs, including obesity treatments, are considered essential for patients [5]. - The ongoing trade war is expected to contribute to economic instability, but pharmaceutical companies like Eli Lilly are better insulated from these pressures [5].

Core Viewpoint - Eli Lilly is taking legal action against four telehealth companies for selling compounded versions of its weight loss drug Zepbound and diabetes treatment Mounjaro, alleging consumer deception and violation of FDA regulations [1][2][3]. Group 1: Legal Actions and Allegations - Eli Lilly has filed lawsuits against Mochi Health, Fella Health, Willow Health, and Henry Meds, accusing them of marketing "untested, unapproved drugs" and misleading consumers away from Lilly's products [2]. - The company claims these telehealth platforms are falsely presenting their offerings as personalized treatments while actually mass-marketing variations of Lilly's drugs to evade FDA scrutiny [3]. - Lilly's lawsuits also assert that some of these companies are selling unstudied formulations, including oral tablets and drops, which have not undergone proper clinical testing [3]. Group 2: Market Context and Compounding Practices - The shortage of Lilly's diabetes drug Mounjaro in late 2022 led to pharmacies and outsourcing facilities engaging in compounding practices, creating a market for alternative versions of GLP-1 drugs [4][5]. - Despite the FDA declaring the shortage over, some pharmacies continued to produce compounded versions of tirzepatide, the active ingredient in Mounjaro and Zepbound, potentially avoiding regulatory action [5][6]. - The online market for compounded drugs surged as consumers sought alternatives when brand-name drugs were unavailable or not covered by insurance [5]. Group 3: Company Responses and Future Implications - Mochi Health, one of the companies being sued, expressed intentions to continue selling compounded versions of tirzepatide, believing that personalized treatment offerings would protect them legally [7]. - Lilly's legal filings claim that Mochi's CEO is not a licensed physician and that the company exerts undue influence over prescribing decisions, which constitutes the "unlawful corporate practice of medicine" [8]. - Lilly is seeking to prevent these telehealth companies from marketing or selling tirzepatide, but the legal process may take months or longer to resolve [8].

Core Insights - Novo Nordisk has faced challenges over the past year, with financial results not meeting investor expectations despite strong performance relative to peers [1] - The company is experiencing increased competition from Eli Lilly, particularly in the GLP-1 diabetes and obesity drug markets [2] Group 1: Financial Performance - In 2024, Novo Nordisk's revenue increased by 25% year over year to 290 billion Danish kroner ($44.7 billion) [2] - The company held a 55.1% share of the GLP-1 diabetes market as of November, a slight increase from 54.8% in the previous year [2] Group 2: Competitive Landscape - Eli Lilly reported positive phase 3 results for orforglipron, a daily oral GLP-1 therapy, which could attract patients preferring oral medication over injections [3][4] - Orforglipron demonstrated efficacy in reducing A1C levels by 1.3% to 1.6% and achieving a mean weight loss of 7.3 kilograms (16 pounds) over 40 weeks, comparable to Novo Nordisk's Ozempic [5] Group 3: Pipeline and Future Prospects - Novo Nordisk has several oral weight loss and diabetes candidates in its pipeline, including amycretin, which showed promising early-stage results with a mean weight reduction of 13.1% after 12 weeks [6][7] - The company is also exploring label expansions for existing medicines and developing new candidates for conditions like Alzheimer's disease and blood disorders [8] - Novo Nordisk is expected to maintain its leadership in diabetes and weight loss markets while achieving strong financial results and returns for long-term investors [9]

The most recent trading session ended with Eli Lilly (LLY) standing at $827.54, reflecting a +1.16% shift from the previouse trading day's closing. The stock lagged the S&P 500's daily gain of 2.51%. Elsewhere, the Dow gained 2.66%, while the tech-heavy Nasdaq added 2.71%. Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a cl ...

智通财经APP获悉，全球糖尿病巨头诺和诺德(NVO.US)股价周四在哥本哈根暴跌，原因在于其竞争对手礼来(LLY.US)推出的一种新药Zepbound在减肥和控 制血糖方面表现出与诺和诺德的重磅注射药物Ozempic相当的效果。自周四礼来公布这一利好消息后，诺和诺德股价在哥本哈根早盘交易中下跌了9.8%，跌 至380克朗。 据了解，Ozempic、Wegovy以及礼来的Zepbound等相关药物的成功，激发了制药行业研发更易于服用、成本更低的药片的热情。礼来公司的研究给诺和诺德 带来了巨大的竞争压力，导致后者市值自年初以来已缩水三分之一。 这场针尖对麦芒的较量背后，是千亿级减肥市场的激烈争夺。数据显示，诺和诺德和礼来生产的减肥针剂目前已创造了数十亿美元的销售额，对2020年末预 测的1300亿美元的减肥药市场至关重要。 值得一提的是，礼来公司公布的其口服减肥药Orforglipron三期临床试验结果表现也同样出色，该药物在减肥效果上可媲美甚至超越注射型GLP-1药物。服用 Orforglipron的患者平均减轻体重7.9%，而Ozempic在最高剂量下仅使糖尿病患者减轻约6%的体重。 不过，Orforglip ...

智通财经4月22日电，礼来减肥药数据公布后，诺和诺德股价暴跌近10%。 ...