格隆汇8月1日｜美国总统特朗普周四致函欧洲制药公司，要求其将美国消费者的药品价格降至其他发达 国家的最低水平，导致欧洲制药公司股价早盘下跌。葛兰素史克、阿斯利康、诺和诺德和赛诺菲的股价 分别下跌1.7%、2.8%、4.2%和1.2%，诺和诺德股价跌至四年低点。斯托克欧洲600医疗保健指数下跌 1.8%。 【免责声明】本文仅代表作者本人观点，与和讯网无关。和讯网站对文中陈述、观点判断保持中立，不对所包含内容 的准确性、可靠性或完整性提供任何明示或暗示的保证。请读者仅作参考，并请自行承担全部责任。邮箱： news_center@staff.hexun.com (责任编辑：宋政 HN002) ...

Core Viewpoint - Eli Lilly's GLP-1 weight loss drug, Tirzepatide, shows cardiovascular benefits in a large-scale clinical study, intensifying competition with Novo Nordisk [3][4]. Group 1: Clinical Study Results - The SURPASS-CVOT Phase 3 study included data from China and compared Tirzepatide with Dulaglutide, an older diabetes drug from Eli Lilly, focusing on cardiovascular outcomes [3]. - Tirzepatide demonstrated non-inferior cardiovascular health benefits compared to Dulaglutide, positioning it as a preferred prescription for type 2 diabetes patients [3][4]. - Eli Lilly plans to submit data to global regulatory agencies by the end of this year, with expectations for cardiovascular indications approval in 2026 [3]. Group 2: Market Context and Competition - In China, Tirzepatide has received approvals for diabetes management, weight loss, and obstructive sleep apnea, but not yet for cardiovascular indications [3]. - Novo Nordisk's Semaglutide already includes cardiovascular outcome benefits in its labeling, highlighting the competitive landscape [3][4]. - Novo Nordisk recently lowered its sales growth forecast for Semaglutide in the U.S. market from 13%-21% to 8%-14% for 2025, indicating potential market challenges [4].

来源：格隆汇APP 格隆汇8月1日｜美国总统特朗普周四致函欧洲制药公司，要求其将美国消费者的药品价格降至其他发达 国家的最低水平，导致欧洲制药公司股价早盘下跌。葛兰素史克、阿斯利康、诺和诺德和赛诺菲的股价 分别下跌1.7%、2.8%、4.2%和1.2%，诺和诺德股价跌至四年低点。斯托克欧洲600医疗保健指数下跌 1.8%。 ...

特朗普要求降低药品价格后，欧洲制药股下跌 金十数据8月1日讯，美国总统特朗普周四致函欧洲制药公司，要求其将美国消费者的药品价格降至其他 发达国家的最低水平，导致欧洲制药公司股价早盘下跌。葛兰素史克、阿斯利康、诺和诺德和赛诺菲的 股价分别下跌1.7%、2.8%、4.2%和1.2%，诺和诺德股价跌至四年低点。斯托克欧洲600医疗保健指数下 跌1.8%。 ...

诺和诺德欧股股价跌至2022年1月低点，连续第三天下跌。 ...

Core Insights - The core finding of the articles is that the GLP-1 weight loss drug, Tirzepatide, shows comparable cardiovascular benefits to Dulaglutide, positioning it as a potential preferred prescription for type 2 diabetes patients [1][2] Group 1: Clinical Study Results - Eli Lilly announced the results of a large-scale clinical study, SURPASS-CVOT, indicating that Tirzepatide demonstrates cardiovascular benefits similar to Dulaglutide [1] - The study included data from China and compared the cardiovascular outcomes of Tirzepatide and Dulaglutide, which is set to lose its patent in 2027 [1] - Eli Lilly plans to submit data to global regulatory agencies by the end of this year, with expectations for cardiovascular indications to be approved by 2026 [1] Group 2: Market Competition - The competition between Eli Lilly and Novo Nordisk is intensifying, particularly in the U.S. market [2] - Novo Nordisk recently revised its sales growth forecast for Semaglutide in the U.S. market from 13%-21% to 8%-14% due to declining growth expectations [2] - Eli Lilly is set to release its latest quarterly financial report on August 7 [2] Group 3: Health Implications - Cardiovascular disease remains a leading cause of death among type 2 diabetes patients, highlighting the importance of effective treatment options [2] - The SURPASS-CVOT results suggest that Tirzepatide not only retains the cardiovascular protective effects of Dulaglutide but also offers additional health improvements, including enhanced kidney protection and reduced overall mortality risk [2] - In China, nearly 70% of type 2 diabetes patients are at high risk for cardiovascular disease and kidney disease, emphasizing the need for improved management strategies [2]

特朗普要求制药巨头降低美国药价 诺和诺德跌超6% 智通财经8月1日电，诺和诺德跌超6%，阿斯利康跌超3%。美国总统特朗普周四表示，他已要求全球主 要制药公司在未来60天内采取措施降低美国药品价格。 ...

Financial Performance - Novo Nordisk has lost approximately 2/3 of its value in the past year [1] - The company has slashed its earnings outlook for the second time this year, leading to a 23% plunge in shares in a day [1] Market Dynamics & Competition - Approximately 1 million patients in the US are using cheaper versions of Novo Nordisk's weight loss and diabetes drugs [1] - Novo Nordisk's imitation problem stems from a failure to meet drug demand, allowing copycats to gain market share [2] - Novo Nordisk is losing market share to US rival ILY, whose competing obesity shot, Setbound, beat Wegovy in a head-to-head trial [3] - US authorities ruled that a shortage of ampic and riggoi was over and asked compounding pharmacies to stop making their own versions in February [2] Strategic Response & Leadership - A new CEO, Maria Mike Dustster, has been appointed and has promised to move fast, sharpen execution, and hinted at cost reductions and job cuts [4] - Investors, the Danish government, and economists will be closely monitoring the new CEO's moves, as even a small stumble could hurt Denmark's economic outlook [4] Product Analysis - Clinical data indicates Wegovy can help reduce heart attacks and strokes [3] - A consensus is growing among doctors that Setbound is a more effective medicine [3]

Core Viewpoint - HSBC has downgraded Novo Nordisk's stock rating from "Buy" to "Hold" due to the company's warning regarding its business outlook for 2025, indicating a significant reduction in growth expectations compared to previous market forecasts [1][2] Group 1: Company Performance - Novo Nordisk's management has indicated that its revenue growth rate may stabilize at a low single-digit percentage level in 2025, which is a notable decline from earlier optimistic market predictions [1] - The company has revised its full-year sales growth forecast from 13%-21% down to 8%-14%, and its operating profit growth forecast from 16%-24% down to 10%-16% [2] Group 2: Market Challenges - The GLP-1 drug market, which is a core driver of Novo Nordisk's sales, is facing multiple challenges, including illegal sales by U.S. compounders that are squeezing the company's market space [1] - Internal management changes have led to delays in execution efficiency, further undermining market confidence in the company's short-term profit outlook [1] Group 3: Valuation Adjustments - HSBC has lowered its long-term peak sales expectations for Novo Nordisk's main products, resulting in a 5% and 16% reduction in earnings forecasts for 2025 and 2026, respectively [1] - The target price for Novo Nordisk's stock has been significantly reduced from 680 Danish Krone to 360 Danish Krone, representing a 47% decrease [1] Group 4: Leadership Changes - The current CEO, Lars Fruergaard Jørgensen, is stepping down due to pressure from stock performance, with Maziar Mike Doustdar, who has over 30 years of experience in international operations, taking over [2] - This leadership change has sparked mixed reactions among investors, with some supporting the new CEO's experience while others believe the company needs a leader with U.S. market experience to face competition from rivals like Eli Lilly [2]

Core Viewpoint - Novo Nordisk significantly lowered its full-year financial outlook and appointed Maziar Mike Doustdar as the new CEO, succeeding the current CEO [2] Financial Outlook - The company revised its full-year sales growth forecast from 13%-21% to 8%-14% [2] - The operating profit growth forecast was adjusted from 16%-24% to 10%-16% [2] - Following the announcement, the company's stock price dropped by 28%, resulting in a market value loss of approximately $93 billion [2] Reasons for Downgrade - The primary reason for the lowered performance expectations is the poor sales of "Wegovy" (weight loss version of semaglutide), attributed to slower-than-expected expansion in the U.S. obesity market and significant illegal circulation of generic GLP-1 drugs [2] - Additionally, "Ozempic" (diabetes version of semaglutide) is experiencing slowed growth due to increased competition in the U.S. GLP-1 diabetes drug market, leading patients to switch to competing products [2] - International market performance has also fallen short of expectations, with Wegovy's penetration in certain international markets being below company targets [2] Industry Perspective - Industry observers note that while the global obesity issue presents significant opportunities for the weight loss drug market, companies face intensified competition from multi-target drugs, a more complex payment environment, and stricter regulatory requirements [2] - There is an increasing sensitivity in the capital markets regarding the risks associated with pharmaceutical companies' reliance on single products [2]