诺和诺德公司 20250806 摘要 诺和诺德 2025 年前 6 个月销售额增长 16%（丹麦克朗计），固定汇率 下增长 18%。肥胖护理销售额显著增长 58%，国际业务增幅高达 125%，但中国市场 GOP One 销量低于预期，受批发商库存变动影响。 公司在研药物艾美克汀一期 B2a 试验显示，超重或肥胖人群在 36 周内 体重减轻高达 24.3%，计划于 2026 年初启动"Amazed"三期开发计 划，评估其在减重及相关并发症方面的潜力。 诺和诺德已启动 REDEFINE 11 期试验，探索更高剂量卡格米家族药物 的减重潜力，并向欧盟提交 7.2 毫克剂量申请。内部三重激动素受体激 动剂(TLP-1/GIP)联合疗法的一期试验结果预计将为后续试验奠定基础。 美国 GLP-1 糖尿病护理产品销售增长 9%，得益于奥林匹克持续销量增 加。公司投资商业活动和标签更新，推动市场渗透，计划今年晚些时候 推出奥运会，并继续扩大在线存在与远程健康合作。 诺和诺德预计 2025 年销售增长 8%-40%（固定汇率），经营利润增长 10%-16%（固定汇率）。下半年增长预期较低，主要受美国肥胖市场 和美国 1 型糖尿 ...

整理 | GLP1减重宝典内容团队 替尔泊肽是一种新型的每周一次的 GIP（葡萄糖依赖性胰岛素促泌多肽）受体和 GLP-1（胰高血糖素样肽-1）受体激动剂，代表了一类正在研 究的治疗肥胖症的药物。替尔泊肽是一种激活人体 GIP 和 GLP-1 受体（两种天然肠促胰岛素激素）的单肽。 肥胖症是一种慢性进行性疾病，由控制体重的机制中断引起，通常导致食物摄入量增加和/或能量消耗减少。这些中断是多因素的，可能与遗 传、发育、行为、环境和社会因素有关。 ▍个体差异显著：替尔泊肽并非人人适用 在SURMOUNT-1试验中，研究招募了 2,539 名参与者，参与者的平均基线体重为105 公斤。 试验结果平均体重减轻：16.0%（5 毫克时16 公斤）、21.4%（10 毫克时22 公斤）和 22.5%（15 毫克时24 公斤），而安慰剂组（2.4%或 2 公 斤）。 然而要达到这样的效果，试验引入了低热量饮食和增加身体活动的辅助手段 ，所以要达到这样的效果需搭配生活方式改变。 89%（5 毫克）和 96%（10 毫克和 15 毫克）的人体重减轻了至少 5%，而服用安慰剂的人中，这一比例仅为 28%。 所以替尔泊肽对有的人可 ...

Core Insights - The article emphasizes the urgent need for weight management in China, highlighting that if not effectively addressed, the obesity rates among adults and children could reach 70.5% and 31.8% respectively by 2030 [1] Group 1: Obesity and Health Risks - Obesity is defined as excessive fat accumulation that negatively impacts health, with a Body Mass Index (BMI) over 28 indicating obesity [2] - Central obesity, indicated by waist circumference (≥90 cm for men and ≥85 cm for women), is more closely associated with metabolic disorders and health risks than BMI alone [2][5] - Obesity can lead to various diseases, including metabolic disorders, cardiovascular diseases, and psychological issues, necessitating a comprehensive approach to weight management [3] Group 2: Weight Management Strategies - A systematic assessment is recommended for obesity patients, including investigations into causes, physical examinations, and screening for related diseases [3] - Patients should receive guidance on nutrition, exercise, and psychological support as part of their weight management plan [3] - The target for weight loss is individualized, with a recommendation of a 5%-15% reduction in weight over 3-6 months, followed by maintenance [3] Group 3: Assessment Methods - The most common method for assessing obesity is BMI, with a normal range of 18.5-23.9, overweight at 24-27.9, and obesity at 28 or above [4] - Waist circumference and waist-to-hip ratio are also important metrics for assessing central obesity, which poses greater health risks [5] - Advanced methods like body composition analysis and imaging techniques can provide more precise assessments of fat distribution [6] Group 4: Lifestyle and Behavioral Changes - For individuals who are overweight but not obese, a combination of aerobic and resistance training is recommended, with a focus on moderate-intensity activities [7] - Daily physical activity, such as walking 8000-10000 steps, should be integrated into routines, along with resistance training [7] - Effective weight management requires lifestyle adjustments, including dietary changes and improved sleep quality, to regulate appetite and metabolism [10][11]