Analyst's Disclosure: I/we have a beneficial long position in the shares of NVO either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any in ...

Core Insights - Novo Nordisk and Eli Lilly continue to show strong performance growth in Q1 2025, driven by their GLP-1 drugs [1][2][3] - The global GLP-1 drug market is expected to exceed $60 billion by 2025, with both companies competing aggressively for market share [2][6] Financial Performance - Novo Nordisk reported total revenue of 78.087 billion Danish Krone (approximately $11.216 billion) in Q1 2025, a year-on-year increase of 18% [1] - Eli Lilly's Q1 2025 revenue reached $12.729 billion, reflecting a 45% year-on-year growth [2] - Novo Nordisk's semaglutide generated a total revenue of 56.934 billion Danish Krone (approximately $8.011 billion), a 31% increase [1][3] - Eli Lilly's tirzepatide contributed $6.15 billion to its revenue, accounting for about 48% of its total Q1 revenue [2] Market Dynamics - The GLP-1 drug class has emerged as a significant market player, with semaglutide and tirzepatide leading the way [3][6] - Novo Nordisk holds a 55.3% share of the global GLP-1 market, but faces increasing competition from domestic companies in China as its patents expire in 2026 [7][10] - The number of patients treated with obesity medications in major markets is expected to grow significantly, indicating a large untapped market [5] Research and Development - Novo Nordisk has submitted a marketing application for semaglutide for treating liver fibrosis and has terminated the development of a weekly oral formulation [4] - Eli Lilly plans to submit a marketing application for orforglipron for type 2 diabetes in H1 2026 and is expanding research into hypertension and obstructive sleep apnea [4] Competitive Landscape - The competition in the GLP-1 market is intensifying, with numerous domestic companies entering the space and developing new formulations [7][10] - The rise of domestic GLP-1 drugs is expected to disrupt the current market dynamics, with potential for a significant increase in market share for local players [10] - Companies are focusing on enhancing drug efficacy, oral formulations, and cost-effectiveness to attract consumers in a saturated market [6][10]

智通财经5月7日电，2025年第一季度，司美格鲁肽全球销售额终于超过K药，暂时坐上了全球"药王"宝 座。诺和诺德在一季报中表示，全球约有10亿人患有肥胖症，但只有数百万人接受治疗，公司继续在全 球推广Wegovy。不过，司美格鲁肽仍要直面与礼来的GLP-1/GIP双重激动剂替尔泊肽的竞争，且两者的 竞争日趋白热化。 司美格鲁肽全球销售额超过抗癌药物K药 暂时坐上了全球"药王"宝座 ...

Group 1 - In Q1 2025, sales of semaglutide surpassed Merck's Keytruda by $664 million, marking semaglutide as the temporary global "king of drugs" [1][2] - Novo Nordisk reported Q1 2025 global sales of semaglutide at 55.776 billion Danish kroner (approximately $7.864 billion), a year-on-year increase of 32.17%, accounting for about 71% of the company's total revenue [1][3] - Merck's Keytruda reported Q1 2025 global sales of $7.2 billion, with a year-on-year growth of 4%, indicating a slowdown compared to its 18% growth in 2024 [2][3] Group 2 - Semaglutide's growth is driven by its indications for weight loss, with Ozempic sales at 32.721 billion Danish kroner (approximately $4.613 billion, up 15%), Rybelsus at 5.695 billion Danish kroner (approximately $0.803 billion, up 13%), and Wegovy at 17.36 billion Danish kroner (approximately $2.448 billion, up 83%) [3] - Novo Nordisk highlighted that approximately 1 billion people suffer from obesity, but only a few million receive treatment, indicating a significant market opportunity for Wegovy [3] - Competition is intensifying with Eli Lilly's dual agonist tirzepatide, which has cumulative sales of $6.15 billion, although semaglutide's sales still lead [3][4] Group 3 - Eli Lilly holds a 53.3% market share in the U.S. for GLP-1 receptor agonists, indicating strong competition in the market [4] - Novo Nordisk has revised its full-year 2025 sales growth forecast from 16%-24% to 13%-21%, and its operating profit forecast from 19%-27% to 16%-24%, primarily due to lower-than-expected market penetration of semaglutide in the U.S. [4]

诺和诺德CFO表示，诺和诺德并没有为减肥药Wegovy在美国寻求合同。 ...

Core Viewpoint - Novo Nordisk's Q1 2025 earnings report shows mixed results, with net sales slightly below analyst expectations, while operating profit exceeded expectations, highlighting the competitive landscape in the obesity drug market [1][4][5] Financial Performance - Q1 net sales reached 78.087 billion DKK, a 19% year-over-year increase, but below the expected 78.7 billion DKK [1] - Operating profit was 38.791 billion DKK, up 22% year-over-year, surpassing the forecast of 37.12 billion DKK [1] - Net profit increased by 14% to 29.034 billion DKK [1] Product Sales - Sales of the obesity drug Wegovy were 17.36 billion DKK, an 85% increase year-over-year, but below the expected 18.5 billion DKK [1] - Sales of the diabetes drug Ozempic reached 32.721 billion DKK, an 18% increase, slightly above the expected 32.01 billion DKK [1] Market Competition - Novo Nordisk's Wegovy faces increasing competition from Eli Lilly's Zepbound, leading to a decline in stock performance, with shares down nearly 22% year-to-date [4] - CVS Health announced Wegovy and Saxenda as preferred obesity drugs, removing Zepbound, which may boost Wegovy sales and stock performance [4] Revised Outlook - The company lowered its full-year sales and profit forecasts, now expecting sales growth of 13% to 21%, down from 16% to 24% [5] - Operating profit growth is now projected at 16% to 24%, reduced from 19% to 27% [5] Strategic Focus - The CEO emphasized the need to prevent illegal generics and continue promoting Wegovy globally [5] - The company has completed key trials for the next-generation obesity treatment CagriSema and has applied for approval of oral semaglutide 25mg, aiming to be the first oral GLP-1 treatment for obesity [5]

Core Insights - Novo Nordisk reported a better-than-expected net profit of 29.03 billion Danish kroner ($4.4 billion) for the three-month period ending March, surpassing analyst expectations of 27.8 billion Danish kroner [2] - The company lowered its full-year sales growth forecast to 13% to 21% at constant exchange rates, down from the previous forecast of 16% to 24% [3] Financial Performance - Sales of the Wegovy obesity drug reached 17.36 billion Danish kroner, slightly below the anticipated 18.51 billion Danish kroner [2] - Overall revenues for the company were reported at 78.09 billion Danish kroner, marginally below the expected 78.18 billion Danish kroner [3] Market Dynamics - The company faces increased competition in the weight loss drug market, with rivals such as Roche, AstraZeneca, and AbbVie developing new candidates [4] - Negative sentiment persists due to disappointing trial results for Novo's next-generation obesity drug candidate, CagriSema [4] Competitor Landscape - Eli Lilly, a key U.S. competitor, reported a 45% rise in first-quarter sales, although revenues for its weight-loss drug Zepbound were slightly lower than expected due to reduced drug pricing [5]

Core Insights - The company reported a 19% increase in net sales for Q1 2025 compared to Q1 2024, reaching DKK 78.1 billion, with operating profit rising by 22% to DKK 38.8 billion [2][3] - The company has revised its full-year sales growth outlook to 13-21% at constant exchange rates (CER), down from previous expectations due to lower-than-planned penetration of branded GLP-1 treatments in the US [3][4] Financial Performance - Net sales for Q1 2025 were DKK 78,087 million, up from DKK 65,349 million in Q1 2024, reflecting a growth of 19% [2] - Operating profit increased to DKK 38,791 million, a 22% rise from DKK 31,846 million in the previous year [2] - Net profit for the quarter was DKK 29,034 million, a 14% increase from DKK 25,407 million in Q1 2024 [2] - Diluted earnings per share rose to DKK 6.53, up 15% from DKK 5.68 [2] Sales Breakdown - Sales in US Operations grew by 20% in Danish kroner and 17% at CER, while International Operations saw an 18% increase in Danish kroner and 19% at CER [4] - Sales in Diabetes and Obesity care increased by 21% to DKK 73.5 billion, driven by a 67% growth in Obesity care to DKK 18.4 billion [4] - GLP-1 diabetes sales grew by 13% in Danish kroner and 11% at CER, while Rare disease sales increased by 5% in Danish kroner and 3% at CER [4] Research and Development - The company completed the REDEFINE 2 trial for CagriSema, showing a weight loss of 15.7% in adults with obesity or overweight and type 2 diabetes [4] - The company has submitted oral semaglutide 25 mg for regulatory review to the US FDA, aiming to be the first oral GLP-1 treatment for obesity [4] - Regulatory submissions for once-weekly semaglutide 2.4 mg have been made in both the EU and US, with priority review granted in the US [4] Outlook - The updated sales growth outlook for 2025 is now expected to be 3 to 5 percentage points lower than previously anticipated when reported in Danish kroner [4] - The company is focused on addressing the challenges posed by compounded GLP-1 treatments in the US and expanding access to its products [3][4]

诺和诺德Wegovy等畅销药物的活性成分模拟了一种名为GLP-1的肠道激素，这种激素会在进食后立即 由人体产生。 克莱恩称，Ousia的化合物能增强GLP-1调节食欲的效果，意味着达到相同减肥效果可能只需更少药 量，从而减轻副作用。该药物尚未进入临床试验阶段，所获资金将支持未来三年的实验室研究和早期临 床开发。 智通财经APP获悉，美国风险投资公司Omega Funds正押注一家丹麦生物技术初创企业Ousia Pharma， 认为其有望开发出一种新型肥胖症疗法。 总部位于波士顿的投资机构Omega Funds周二宣布，已对Ousia Pharma进行了"可观"的投资，但未透露 具体金额。Omega Funds表示，该公司的研究有望解决现有减肥药物的一些局限性。 Ousia在完成由诺和诺德大股东诺和控股基金会支持的加速器计划后获得了这笔资金。目前诺和诺德与 礼来几乎垄断了减肥药市场，其广受欢迎的注射药物已创造数十亿美元销售额，但众多经验丰富的制药 商正竞相推出竞争产品。 奥胡斯大学科学家于2022年创立了Ousia。该公司首席执行官兼联合创始人安德斯·比厄·克莱恩接受采访 时表示，他们致力于在现有减肥疗法中加入 ...

Market Overview - US stock index futures are all down, with Dow futures down 0.77%, S&P 500 futures down 0.93%, and Nasdaq futures down 1.21% [1] - European indices also show declines, with Germany's DAX down 0.89%, UK's FTSE 100 down 0.22%, France's CAC40 down 0.52%, and the Euro Stoxx 50 down 0.70% [2] - WTI crude oil increased by 2.15% to $58.36 per barrel, while Brent crude rose by 2.06% to $61.47 per barrel [2] Company News - Goldman Sachs indicates that recent earnings reports from major tech companies in the AI sector have boosted investor confidence, suggesting that recent pullbacks present a buying opportunity [3] - DoorDash reported Q1 revenue growth of 20.7% to $3.03 billion, with adjusted EBITDA of $590 million, exceeding market expectations [4] - Philips lowered its annual profit forecast due to the impact of US tariffs, estimating a net effect of €250 million to €300 million (approximately $283 million to $340 million) [5] - Palantir's Q1 revenue surged 39% to $884 million, leading to an upward revision of its 2025 revenue forecast to approximately $3.9 billion, a 36% year-over-year increase [5] - Ford's Q1 revenue fell 5% to $40.7 billion but exceeded analyst expectations, while the company withdrew its full-year profit guidance [6] - Apple is expected to launch AI features in China with support from Alibaba and Baidu, integrating local compliance mechanisms [7] - WeRide expanded its strategic partnership with Uber to deploy autonomous Robotaxi services in 15 cities over the next five years [8] - The US Department of Justice is pushing for the forced divestiture of Google's online advertising business, citing illegal monopoly practices [9]