Novo Nordisk(US:NVO) GLP1减重宝典·2026-01-14 15:14Core Viewpoint - Novo Nordisk is facing significant challenges in the obesity market, transitioning from a market leader to a follower due to increased competition and structural changes in the industry [4][6]. Group 1: Company Challenges - Novo Nordisk's CEO acknowledged that 2025 will be an extremely difficult year, with layoffs of 9,000 employees and a loss of market dominance in the obesity sector [4]. - The company is experiencing pressure from competitors like Eli Lilly and the increasing penetration of generic drugs, which has led to a reevaluation of its market position [4][6]. Group 2: Strategic Responses - Novo Nordisk has outlined three core strategies for 2026: launching the oral version of Wegovy, advancing higher-dose injectable Wegovy, and implementing a Direct-to-Patient sales model [6][9]. - The Direct-to-Patient strategy aims to bypass traditional insurance systems and directly connect with patients, making weight loss medications more accessible [9][10]. Group 3: Market Repositioning - The company is redefining the market for weight loss drugs, shifting from a model reliant on doctors and insurance to one that resembles a consumer goods market [7][9]. - By utilizing e-commerce platforms and direct sales channels, Novo Nordisk intends to make Wegovy as accessible as everyday consumer products [9][10]. Group 4: Research and Development Focus - Novo Nordisk is refocusing its R&D efforts on metabolic diseases, terminating or slowing down projects in other areas like liver disease and oncology [10][13]. - The company is advancing its next-generation obesity pipeline centered around CagriSema, which combines semaglutide with insulin analogs [13][14]. Group 5: Long-term Strategies - Novo Nordisk is pursuing multiple pathways for developing tri-agonists that combine GLP-1, GIP, and glucagon, while also exploring partnerships for innovative solutions [14][15]. - The company is investing saved funds from layoffs into capacity expansion and building direct patient channels, with plans to advance several new obesity and diabetes candidates into clinical stages by 2026 [15].