经济观察报记者张铃 1月30日，诺和诺德宣布，全球高级副总裁兼大中国区总裁周霞萍决定离开诺和诺德，最后工作日为3月 31日。 周霞萍毕业于上海医科大学，1988年进入中山医院做医生。1994年，她转行到制药行业，最初在华瑞制 药(中国和瑞典的第一家合资药企)担任品牌助理，3年后加入礼来，此后在礼来工作了20年，其中11年 在美国、马来西亚等海外市场任职，最终成为礼来中国高级副总裁兼抗肿瘤产品及跨生化产品中国负责 人。 诺和诺德同时宣布，任命蔡琰为大中国区总裁。蔡琰毕业于中山医科大学，并获得哥本哈根大学博士学 位。她在诺和诺德工作超23年，曾在北京建立区域临床开发中心、推动区域临床开发中心新架构在国际 运营部的落地。 诺和诺德是一家有103年历史的跨国制药巨头，最初靠胰岛素产品起家，百年来也一直在糖尿病领域有 所建树。近几年，其以横空出世的减肥药司美格鲁肽引领着新一轮全球范围内火热的GLP-1靶点竞赛。 不过，近一年，诺和诺德被业绩增速放缓、裁员和高管变动的阴云笼罩。 诺和诺德2025年前三季度财报显示，全球总营收为345亿美元，同比增长15%；中国市场收入22亿美 元，同比增长8%，增速低于全球水平。其中，核 ...

Core Viewpoint - Danish pharmaceutical company Novo Nordisk announced that Senior Vice President and head of its business in China, Christine Zhou, will leave the company at the end of March [1] Company Summary - Christine Zhou has been a key figure in Novo Nordisk's operations in China [1] - The departure is significant as it may impact the company's strategic direction and market presence in the Chinese pharmaceutical sector [1]

诺和诺德（NVO）周四尾盘下跌1.9%，此前该公司因Victoza仿制药上市延迟面临集体诉讼。据报道，J M Smith公司指控诺和诺德收买梯瓦制药，将其Victoza仿制药的上市时间推迟至2024年6月，并寻求代 表直接购买者群体发起集体诉讼。 诉讼还称诺和诺德操纵监管程序，阻止美国食品药品监督管理局（FDA）批准任何潜在的Victoza仿制 药竞争对手，并依据《谢尔曼法》第二条寻求救济。 责任编辑：张俊 SF065 诺和诺德（NVO）周四尾盘下跌1.9%，此前该公司因Victoza仿制药上市延迟面临集体诉讼。据报道，J M Smith公司指控诺和诺德收买梯瓦制药，将其Victoza仿制药的上市时间推迟至2024年6月，并寻求代 表直接购买者群体发起集体诉讼。 诉讼还称诺和诺德操纵监管程序，阻止美国食品药品监督管理局（FDA）批准任何潜在的Victoza仿制 药竞争对手，并依据《谢尔曼法》第二条寻求救济。 责任编辑：张俊 SF065 ...

Core Viewpoint - Roche aims to compete with Eli Lilly and Novo Nordisk in the obesity treatment market, planning to seek approval for four new obesity drugs by 2028 [1] Group 1: Company Strategy - Roche's CEO of the pharma division, Teresa Graham, emphasized the importance of personalized weight-loss journeys for patients [1] - The company is positioning itself to enter a rapidly growing market, indicating a strategic focus on obesity treatments [1] Group 2: Market Context - The obesity treatment market is currently dominated by Eli Lilly and Novo Nordisk, highlighting the competitive landscape Roche is entering [1] - Roche's initiative comes amid significant developments in the biotech sector, with other companies also reporting positive results in related fields [1]

Group 1 - Major reports are expected from Mastercard Incorporated, Caterpillar Inc., and SAP SE before the market opens on Thursday [1] - Tech companies Apple Inc. and Visa Inc. will report their earnings after the market closes on Thursday [1] - Energy companies Exxon Mobil Corporation and Chevron Corporation are set to report before the market opens on Friday [1] Group 2 - A busy day for healthcare reporting is anticipated next Wednesday, with Eli Lilly and Company, AbbVie Inc., Novartis AG, and Novo Nordisk A/S scheduled to release their earnings [1] - Alphabet Inc. will report its earnings after the market closes on the same day [1] - The week will conclude with Amazon.com Inc. reporting after the market closes next Thursday [1]

Core Insights - The focus is on leveraging technical and analytical skills to understand the energy sector and global markets, emphasizing the complexity and depth of knowledge required in finance [1] - The investment strategy centers around "Growth at a Reasonable Price," with an emphasis on fundamental analysis and identifying catalysts for medium-term alpha generation [1] - Options are utilized, primarily on the short side, to generate income and align with the risk-reward profile [1] Investment Strategy - The investment approach is characterized by a deep dive into business fundamentals and market drivers, aiming to uncover significant investment opportunities [1] - The strategy includes a focus on medium-term horizons for potential alpha generation, indicating a proactive investment stance [1] Market Engagement - Continuous learning and adaptation to new information are highlighted as essential in the finance industry, reflecting the dynamic nature of market analysis [1] - The engagement with ML Research suggests collaboration and a broader analytical framework to enhance investment decisions [1]

广告追踪机构MediaRadar的数据显示，2025年前九个月，诺和诺德在美国为Wegovy投入约3.16亿美元广 告费，为 糖尿病药物Ozempic投入约1.69亿美元，合计接近4.87亿美元，支出规模超过礼来同期投入的 两倍。分析指出，去年广告支出激增，与GLP-1药物供应状况改善密切相关。这类药物在2024年大部分 时间供不应求，诺和诺德当时曾暂停广告投放，并在2025年随着供应增加后重新加大宣传力道。 ...

Advertising Expenditure - Novo Nordisk spent nearly $500 million on U.S. advertising for its GLP-1 drugs Wegovy and Ozempic in the first nine months of 2025, more than double Eli Lilly's expenditure on its rival medicines [1] - Novo spent an estimated $316 million on Wegovy and $169 million on Ozempic, reflecting increases of 54% and 44% respectively from the same period in 2024 [2] - Eli Lilly spent about $131 million on Zepbound and $83 million on Mounjaro during the same period, totaling approximately $214 million in advertising [3] Market Dynamics - The U.S. allows direct-to-consumer advertising of prescription medicines, which has been criticized for contributing to high medical costs [5] - A shift in availability for these medicines occurred in 2025 after a shortage in 2024, prompting Novo to increase advertising as supply improved [6] - Eli Lilly's Zepbound demonstrated a 47% greater weight loss compared to Wegovy in a head-to-head trial, which may explain Novo's increased advertising efforts to compete [7] Strategic Focus - Novo plans to advertise a new pill version of Wegovy immediately and utilize cash-pay, direct-to-consumer channels to boost sales [4]

整理 | GLP1减重宝典内容团队 欧洲减重药物市场迎来重要进展。欧洲药品管理局人用药品委员会已对更高剂量的Wegovy给出积极意见，推荐批准司美格鲁肽7.2 mg新剂量在 欧盟上市。这一决定，意味着肥胖症患者有望获得比现有方案更强效的药物选择，也标志着GLP-1减重治疗正式迈入"20%以上减重"的新阶 段。 从核心数据来看，在STEP UP研究中，不伴2型糖尿病的肥胖症患者接受司美格鲁肽7.2 mg治疗72周后，平均体重下降20.7%。更具突破性的 是，约三分之一的患者体重降幅达到或超过25%。这一结果明显高于当前广泛使用的2.4 mg剂量，显示出更高剂量在重度减重需求人群中的潜 力。 更高效的减重并未以牺牲安全性为代价。研究显示，司美格鲁肽7.2 mg的安全性和耐受性与已获批的2.4 mg剂量总体一致。体成分分析表明， 约84%的体重下降来自脂肪量减少，肌肉功能得以维持，这一结果缓解了外界对"快速减重可能导致肌肉流失"的担忧。 在临床价值层面，新剂量并非只关注体重本身。现有证据进一步巩固了Wegovy在改善肥胖相关并发症方面的综合获益，包括降低主要心血管事 件风险，如心肌梗死和脑卒中，以及减轻膝骨关节炎相 ...

The Wegovy maker is coming off a dismal showing in 2025, but it's a legitimate 2026 rebound candidate.For all the enthusiasm around GLP-1s, also known as weight-loss drugs, Novo Nordisk (NVO 1.70%) tumbled nearly 42% in 2025. The once hot stock was confounded by headwinds, including rivals making progress in the weight-loss arena and the emergence of cheaper generics.Fast-forward to 2026, and the stock is already shedding last year's bear market conditions. Shares of the maker of Wegovy are up 25% year to d ...