诺和诺德减重药专利将到期，本土仿制药迎上市潮

Core Insights - The core focus of the article is the impending expiration of the core molecular patent for Novo Nordisk's GLP-1 drug, semaglutide, in China, which is leading to a surge in local generic versions being approved [3][6]. Group 1: Market Dynamics - A significant number of Chinese pharmaceutical companies, including Jiuyuan Gene, Livzon Pharmaceutical, East China Pharmaceutical, Qilu Pharmaceutical, and Zhengda Tianqing, are preparing to launch their generic versions of semaglutide, with over ten companies expected to enter the market soon [3][6]. - Jiuyuan Gene's biosimilar, Jikeqin, has received formal acceptance for its market application from the National Medical Products Administration of China, targeting weight management for obese or overweight individuals [3][6]. - An endocrinologist indicated that the market will soon experience a "bargain price" era for weight loss drugs as more generics become available, following significant price reductions for Novo Nordisk's semaglutide and Eli Lilly's tirzepatide after they were included in medical insurance [3][6]. Group 2: Competitive Landscape - Novo Nordisk's stock has seen a decline of over 20% in the past five trading days and more than 44% over the last month, with its market capitalization dropping to below $130 billion, losing approximately $35 billion in value this week [4][7]. - The Chinese market is crucial for Novo Nordisk, being one of the largest markets for weight loss drugs globally, but it is facing intense competition, particularly from the rise of e-commerce platforms that are becoming key sales channels for consumer-oriented medications [4][7]. - A report from Jefferies forecasts that by 2025, sales of semaglutide on Alibaba's Tmall and JD.com platforms will reach approximately 260 million yuan, while local competitor Innovent Biologics' weight loss drug, Ma Shidu, is expected to exceed 400 million yuan in sales [4][7].