My last article in November 2025 on the obesity treatments' provider Novo Nordisk A/S's ( NVO ) was titled “ Consider The Counterfactual .” The title followed a sharp fall in its stock priceManika is a macroeconomist with over 20 years of experience in industries including investment management, stock broking, investment banking. She also runs the profile Long Term Tips [LTT], which focuses on the generational opportunity in the green economy. Her investing group, Green Growth Giants, takes the theme a step ...

Core Insights - A study found that patients on a higher dose of 7.2 milligrams for approximately 18 months experienced an average body weight loss of 21% [1] Group 1 - The dosage of 7.2 milligrams was associated with significant weight loss in patients [1] - The duration of the study was about 18 months, indicating a long-term effect of the treatment [1] - The average weight loss reported was 21%, highlighting the efficacy of the higher dosage [1]

EU approves higher dose of Novo's Wegovy | ReutersSkip to main content[Exclusive news, data and analytics for financial market professionalsLearn more aboutRefinitiv]Boxes of Ozempic and Wegovy made by Novo Nordisk are seen at a pharmacy in London, Britain March 8, 2024. REUTERS/Hollie Adams/File Photo [Purchase Licensing Rights, opens new tab]- Companies[Novo Nordisk A/S]FollowFeb 17 (Reuters) - The European Commission has approved a higher dose of Novo Nordisk's [(NOVOb.CO), opens new tab] popular weight- ...

Core Viewpoint - The European Commission has approved a new 7.2 mg once-weekly maintenance dose of Wegovy (semaglutide injection) for adults living with obesity, providing an additional option for weight loss after the 2.4 mg dose [1][6]. Group 1: Approval and Dosage Information - The 7.2 mg dosage can be prescribed as three 2.4 mg injections taken in one sitting, still once a week [2]. - Novo Nordisk has applied for approval of a 7.2 mg single-dose pen in the EU, which could be available this year if approved [2]. - Wegovy 7.2 mg is already approved and available in the UK, with regulatory applications pending with the US FDA and other countries [3]. Group 2: Clinical Study Results - In clinical studies STEP UP and STEP UP T2D, participants taking the 7.2 mg dose lost significantly more weight compared to those on placebo [4]. - On average, participants without diabetes lost about 21% of their body weight with Wegovy 7.2 mg, while placebo participants lost about 2% [7]. - Approximately 1 in 3 participants lost 25% or more of their body weight, with 84% of weight loss coming from fat mass while preserving muscle function [7]. Group 3: Product Information and Indications - Wegovy is indicated as an adjunct to a reduced-calorie diet and increased physical activity for weight loss in adults with a BMI of 30 kg/m or greater, or 27 kg/m or greater with weight-related comorbid conditions [5]. - The injectable semaglutide is available in multiple doses: 0.25 mg, 0.5 mg, 1.0 mg, 1.7 mg, 2.4 mg, and now 7.2 mg throughout the EU [4][6].

智通财经记者 李潇潇 短短5年的时间，全球减肥药赛道已发生天翻地覆的变化。 2021年，诺和诺德的司美格鲁肽在美国获批用于减重，自此GLP-1减肥药正式进入全球医药行业的视 野；2025年，礼来的替尔泊肽凭借365亿美元的销售额问鼎2025年全球"药王"宝座，行业直观见识到减 肥赛道的商业传奇。 过去几年，司美格鲁肽和替尔泊肽"双雄争霸"，竞争主要围绕注射剂，而随着2025年底口服减重版司美 格鲁肽在美国获批，减肥药的战火已经被拉至口服领域。 GLP-1药物最早是用于糖尿病治疗的处方药，但却因为减重效果出圈。虽然GLP-1药物已在全球主流市 场获批用于减重，但"每周一针"的皮下注射方式仍阻碍部分肥胖人群，尤其是恐针人群面临巨大的挑 战。此外，针剂的减肥药也有较高的冷链运输和储存要求，一定程度上限制着药物的可及性。 上述问题在2025年底得到了突破。2025年12月22日，诺和诺德的口服减重版司美格鲁肽正式在美国获 批，成为首款口服GLP-1肥胖治疗药物。诺和诺德2025年财报显示，口服减重版司美格鲁肽于2026年1 月5日上市，截至1月23日，每周的总处方量约为5万张。 口服减肥药的"双雄争霸"的场景早已做过 ...

Core Insights - Novo Nordisk is focusing on regaining market share in the GLP-1 space, where it has faced competition from Eli Lilly [1][8] - The company's future growth will depend on the success of its next-generation therapies, particularly CagriSema, as current products are expected to see declining sales [2][6] Product Development - CagriSema is a dual agonist that mimics GLP-1 and amylin, showing promising results in clinical trials [4] - In a phase 3 weight-loss trial, CagriSema achieved a mean weight reduction of 22.7% after 68 weeks, outperforming Wegovy, which had a reduction of 16.1% [4] - Another late-stage study showed CagriSema led to a 1.91% reduction in blood sugar and a 14.2% weight loss in type 2 diabetes patients, surpassing Ozempic's performance [5] Regulatory and Manufacturing Challenges - Novo Nordisk has submitted regulatory applications for CagriSema as a weight loss treatment and plans to seek approval for diabetes treatment after completing additional studies [6] - CagriSema's manufacturing will be more complex and costly compared to semaglutide, which has faced supply constraints [7] Competitive Landscape - Eli Lilly's retatrutide has shown a mean weight loss of up to 28.7%, indicating that Novo Nordisk still faces significant competition [7] - Despite challenges, CagriSema's advantages over Wegovy and Ozempic may enhance Novo Nordisk's market position as the company expands its manufacturing capacity [8] Revenue Potential - Wegovy has received label expansions for treating metabolic dysfunction-associated steatohepatitis (MASH), which could positively impact sales [9] - New approvals and label expansions may help Novo Nordisk's revenue trajectory improve [9]

Key Takeaways NVO shares plunged 20.5% in a month after issuing weaker-than-expected 2026 guidance.Novo Nordisk expects 2026 sales and operating profit to decline 5-13% at CER on an adjusted basis.Intensifying competition, U.S. pricing pressure and slowing prescriptions weigh on semaglutide growth.Novo Nordisk (NVO) shares have plunged 20.5% in the past month. The massive sell-off of the stock was primarily driven by a weaker-than-expected 2026 financial outlook issued by the company, despite its fourth-qua ...

整理 | GLP1减重宝典内容团队 礼来的追击进一步把产能战推到台面。礼来的口服GLP-1小分子orforglipron被普遍预期在2026年4月迎来关键审批节点。为了避免上市 后再陷入供给短缺，礼来提前做了"库存战"，披露其口服减重药的预备库存规模已达到约15亿美元，高于此前披露的约5.5亿美元水 平。产能端，礼来在美国多地同步落子：在阿拉巴马州Huntsville规划一座约60亿美元的制造基地，占地约250英亩，计划到2032年前 后完成，预计带来约450个长期岗位与约3000个施工岗位，并被定位为口服小分子GLP-1等产品的重要制造节点；在德州休斯敦，礼来 还规划了另一座约65亿美元的原料药制造设施，落在Generation Park片区，选址被披露约236英亩，规划约615个长期岗位，施工期岗 位规模达到数千级别（公开口径约4000个施工岗位），并给出2030年前后投产或2031前后具备运行能力的时间表；此外，礼来在弗吉 尼亚州Richmond也推进约50亿美元级别的项目，强调"原料药+制剂"的一体化能力，用于其新兴平台型产品线的生产，建设周期按公开 口径为约五年左右。对诺和诺德而言，礼来把"审批前就 ...

Group 1: Healthcare Industry Overview - Healthcare industry stocks serve as effective hedges against technology and growth stocks, performing well when larger stock markets do not [1] - The performance of stocks varies by sub-industry, with some pharmaceutical and biotech stocks behaving more like growth stocks [1] Group 2: Novo Nordisk - Novo Nordisk is a leading global pharmaceutical company specializing in GLP-1 drugs for weight loss and diabetes management, alongside Eli Lilly [6] - In fiscal 2025, sales for diabetes and obesity care drugs increased by 7%, with obesity care drugs seeing a 26% gain; sales growth for 2026 is projected between 5% to 13% [7] - The GLP-1 market is expected to grow to $254 billion by 2034, representing a compound annual growth rate of 17%, positioning Novo Nordisk for long-term benefits [7] - The stock is currently trading at a low valuation of 13 times earnings, priced at $49 per share, making it an attractive investment option [8] Group 3: AbbVie - AbbVie, a spinoff from Abbott Labs, has demonstrated strong defensive characteristics, rising 24% during the 2022 bear market while the S&P 500 fell by 18% [9] - AbbVie has consistently increased its dividend for 13 years since its separation from Abbott, currently offering a high yield of 3.1% [9]

Core Insights - Novo Nordisk's Wegovy pill has seen an explosive launch, with 246,000 patients currently using it, despite facing pricing headwinds that are expected to lead to negative sales growth in 2026 [3][4][2] - The company is optimistic about future growth, citing an increase in patient numbers and production capacity, as well as a growing pipeline for future products [3][4] Market Dynamics - The company anticipates that Medicare coverage for obesity drugs will open access to 67 million people, with an initial target of around 15 million potential patients [6][38] - The Wegovy pill is positioned to attract patients who prefer oral medication over injections, addressing concerns such as needle phobia [7][8] Competitive Landscape - Wegovy's current clinical trial data shows a weight loss efficacy of 16.6%, compared to a competitor's 12.4%, indicating a 40% difference in effectiveness [22] - The company is aware of the need to communicate the efficacy of its products effectively, especially in light of competitors' marketing strategies [20][21] Supply Chain and Regulatory Aspects - Novo Nordisk has filed for registration and approval of the Wegovy pill in the European Union, indicating readiness to expand into other markets [17] - The company emphasizes the importance of maintaining a steady supply of the Wegovy pill to avoid shortages that could frustrate patients [18] Legal and Ethical Considerations - The company has taken legal action against compounding pharmacies that produce knockoff versions of its products, citing concerns over patient safety and the integrity of its intellectual property [27][30] - Novo Nordisk differentiates between mass compounding and individualized compounding, advocating for safe and regulated access to medications [34] Pipeline and Future Strategies - The company is exploring the potential of GLP-1 treatments for conditions like Alzheimer's, although no public decision has been made regarding further investment in this area [41][43] - Novo Nordisk is also working on a new product, Cagrisema, which combines GLP-1 and Amylin technologies, with trials showing promising weight loss results [44][46]