Core Viewpoint - The article discusses the emerging risks associated with the weight-loss drug Semaglutide, particularly its potential to cause vision loss, which has led to compensation claims from affected patients [4][6][7]. Group 1: Vision Risk and Compensation - On November 21, a Danish patient compensation association reported that 43 patients who used Ozempic or Wegovy filed for compensation due to a condition called NAION, which can lead to vision loss [7][12]. - Four out of five initial cases have received compensation totaling nearly 900,000 RMB, highlighting the severity of the issue [11]. - The risk of NAION has been acknowledged, with estimates suggesting that approximately 1 in 10,000 users may be affected, potentially leading to 5,000 victims globally given the projected 50 million users by 2025 [12][13]. Group 2: Market Performance and Challenges - Despite ongoing controversies regarding side effects, Semaglutide remains a significant revenue generator for Novo Nordisk, with total sales reaching $25.462 billion in the first three quarters of 2025, a 24% year-on-year increase [25]. - The weight-loss version, Wegovy, has shown particularly strong performance, with sales of $8.609 billion, marking a 54% increase [25]. - However, the Chinese market has become a growth shortfall for Novo Nordisk, with revenues of approximately $2.237 billion and an 8% growth rate, lagging behind the company's overall double-digit growth [26]. Group 3: Competitive Landscape - Novo Nordisk is facing intensified competition in the Chinese GLP-1 market, with Eli Lilly's Tirzepatide emerging as a direct competitor, claiming similar weight-loss effects with potentially milder gastrointestinal side effects [29]. - The expiration of Semaglutide's patents post-2026 has prompted a surge in domestic pharmaceutical companies developing generic versions, with 27 companies currently pursuing market entry [30]. - The combination of emerging vision risks and fierce competition in the Chinese market poses significant challenges for Novo Nordisk, complicating its efforts to maintain its previous growth trajectory [31].