(Reuters) -Pfizer said on Friday it had filed a lawsuit against Metsera and Novo Nordisk , saying Metsera breached its merger agreement obligations in declaring the Danish drugmaker's $8.5 billion bid for the U.S. obesity drug developer to be a superior offer. Pfizer asked the Delaware court where it filed the lawsuit to issue a temporary restraining order to block Metsera from terminating the agreement. The lawsuit was not immediately available in the court's electronic filing system. Metsera has given ...

Group 1 - The company is pursuing its ambition to become a key player in the growing obesity market [1] - A significant collaboration agreement has been established with Roche regarding the main asset, petrelintide [1] - The focus with Roche is to accelerate the development program for petrelintide [1] Group 2 - Upcoming key data readouts are expected for petrelintide in Phase II and for survodutide, which is licensed to Boehringer in Phase III [1] - The company expresses excitement about the upcoming period and the rapid news flow [1]

Core Viewpoint - Viking Therapeutics' shares dropped 36% following mixed results from a mid-stage study of its obesity drug VK2735, raising concerns about the drug's safety and tolerability [1][11]. Company Analysis - VK2735 showed a 12.2% weight loss in patients on the highest dose after 13 weeks, compared to 1.3% in the placebo group, but high dropout rates were noted [1]. - Management suggested that side effects could be mitigated by gradually increasing doses, yet investor sentiment remains negative [2]. - The company currently has no marketed products and faces significant cash burn due to ongoing clinical studies, prompting a focus on the obesity pipeline [8]. Market Competition - The obesity market is projected to reach $100 billion in the U.S. by 2030, with Eli Lilly and Novo Nordisk leading the injectable segment [4]. - Both Eli Lilly and Novo Nordisk are also developing oral weight-loss pills, with recent disappointing results from Lilly's oral GLP-1 pill study [5]. - Novo Nordisk is seeking FDA approval for an oral version of Wegovy, which could enhance its competitive position in the obesity market [6]. Stock Performance and Valuation - Viking Therapeutics' stock has underperformed, dropping 38% this year compared to a 4% growth in the industry [12]. - The stock trades at a premium with a price/book ratio of 3.63, higher than the industry average of 2.98 [14]. - Estimates for losses per share for 2025 and 2026 have widened significantly in the past month [14].

Financial Data and Key Metrics Changes - In the first six months of 2025, the company achieved 18% sales growth and 29% operating profit growth [8][42] - The gross margin decreased to 83.4% compared to 84.9% in 2024, primarily due to amortizations and depreciations related to Catalent [42] - Net profit increased by 22% and diluted earnings per share rose by 23% to DKK 12.49 [46] Business Line Data and Key Metrics Changes - U.S. Operations sales grew by 17%, while international operations grew by 19% [12] - GLP-1 diabetes care sales in the U.S. increased by 9%, driven by Ozempic, while obesity care sales surged by 58% [12][19] - Rare disease sales increased by 15%, with U.S. operations growing by 23% [15] Market Data and Key Metrics Changes - The company serves nearly 46 million patients with diabetes and obesity treatments, an increase of over 3.5 million patients compared to the first half of 2024 [10] - In international operations, GLP-1 diabetes sales increased by 10%, while obesity care sales grew by 125% [22] - The company holds a 71% market share in the GLP-1 segment in international operations [24] Company Strategy and Development Direction - The company aims to expand its diabetes and obesity markets, targeting new patient groups and physician segments [30] - A focus on innovation and operational efficiency is emphasized, with plans to enhance commercial execution [59] - The company is investing in a broad portfolio of treatments to address diverse patient segments in the obesity market [30] Management's Comments on Operating Environment and Future Outlook - Management has lowered the full-year outlook for 2025 due to lower growth expectations for Wegovy and Ozempic in the U.S. [9][49] - The company remains confident in its ability to treat more patients with chronic diseases despite the adjustments in expectations [54] - The management highlighted the importance of addressing the unmet needs in diabetes and obesity globally [28] Other Important Information - The company has initiated a Phase III clinical development program for amicretin, targeting obesity and associated comorbidities [35] - The company plans to launch oral semaglutide for obesity in the U.S. next year without supply restrictions [103] - An interim dividend of DKK 3.75 per share has been announced, reflecting a 7% increase compared to the previous year [48] Q&A Session Summary Question: What is the impact of Wegovy's formulary position with CVS? - Management is pleased with the conversion from the CVS formulary and is seeing results in line with expectations [66] Question: Has Novo initiated any litigation regarding compounding practices? - The company is prioritizing patient safety and is in dialogue with the FDA regarding illegal compounding practices, but specifics on litigation were not disclosed [68] Question: What is the outlook for growth in China? - Management clarified that the lower growth in China is due to destocking rather than loss of market share, and they are confident in future growth potential [75] Question: What changes in R&D focus can be expected? - The company will focus more on diabetes and obesity, reallocating resources to enhance growth in these core areas [82] Question: How is the company positioned for the launch of oral semaglutide? - The company is well-positioned for the launch of oral semaglutide for obesity next year, with no supply restrictions anticipated [103] Question: What are the pricing strategies for Wegovy and Ozempic? - Management is focused on volume growth but is also considering pricing strategies for the second half of the year [116]

Swiss pharma giant Roche Holding AG (RHHBY) posted strong growth in the first quarter of 2025. Sales increased 7% year over year to CHF 15.4 billion and were up 6% at constant exchange rates (CER).(Find the latest earnings estimates and surprises on Zacks Earnings Calendar.)The company reports under two divisions — Pharmaceuticals and Diagnostics. All growth rates mentioned below are on a year-over-year basis and at CER.Sales in the Pharmaceuticals Division were up 8% in the first quarter to CHF 11.9 billio ...

Core Viewpoint - Novo Nordisk (NVO) has experienced a significant stock decline of 16.7% over the past month due to sector-specific developments and macroeconomic challenges, particularly following Eli Lilly's announcement of successful phase III trials for its oral GLP-1 candidate [1][2]. Company Overview - Novo Nordisk markets Rybelsus (semaglutide) as an oral medication for type II diabetes (T2D), but it has restrictions on food and water intake, unlike Eli Lilly's orforglipron [2]. - The company has a strong presence in the diabetes care market, maintaining a global diabetes value market share of 33.7% and leading the GLP-1 segment with a 55.1% market share as of the end of 2024 [6]. Financial Performance - Wegovy revenues surged 86% to DKK 58 billion in 2024, driven by strong prescription growth, contributing positively to overall revenues alongside Ozempic [7]. - Year-to-date, Novo Nordisk shares have plunged 28.7%, underperforming the industry and the S&P 500 [16]. Pipeline and Growth Potential - Novo Nordisk is actively pursuing label expansions for semaglutide, which could increase the eligible patient population and drive future revenues [8]. - The company is also developing new obesity treatments and diversifying its portfolio with candidates for hemophilia A [10]. Competitive Landscape - Competition in the obesity market is intensifying, with the market expected to expand to $100 billion by 2030, and other companies like Amgen and Viking Therapeutics making progress in GLP-1-based candidates [13][14]. - Eli Lilly's Zepbound has shown better performance than Wegovy in weight-loss studies, potentially shifting patient preference and impacting Novo Nordisk's market share [12]. Stock Valuation and Estimates - Novo Nordisk's shares currently trade at a price/earnings ratio of 15.13, slightly lower than the industry average of 15.18, but significantly below its five-year mean of 29.25 [18]. - Earnings estimates for 2025 have declined from $3.88 to $3.81 per share, and for 2026 from $4.79 to $4.66 [21]. Strategic Outlook - Despite recent setbacks, Novo Nordisk's strong fundamentals and the untapped obesity market suggest that the current stock decline may be temporary [4]. - The company is expected to benefit from the FDA's removal of semaglutide from its shortage list and recent price reductions for Wegovy, which could enhance access and support sales growth [28].

Core Insights - Novo Nordisk and Eli Lilly dominate the diabetes and obesity market with their GLP-1 products, including Lilly's Mounjaro and Zepbound, and Novo Nordisk's Ozempic, Rybelsus, and Wegovy [1][2] Company Performance - Lilly's Cardiometabolic Health segment generated nearly $30 billion in sales in 2024, accounting for approximately 66% of total revenues, while Novo Nordisk's Diabetes and Obesity care segment generated $39.4 billion (DKK 271.8 billion), representing 93.6% of total sales [2] - Lilly's Mounjaro and Zepbound generated combined sales of $16.5 billion in 2024, making up around 36% of the company's total revenues [5] - Novo Nordisk's GLP-1 sales in diabetes increased by 21% in 2024, with Wegovy sales rising by 86% [11] Growth Prospects - Lilly expects sales of Mounjaro and Zepbound to improve in 2025 due to increased manufacturing capacity and geographic expansions [7] - Novo Nordisk is addressing supply constraints for Wegovy by investing in production and has closed a deal to enhance supply [12] - Both companies are investing in new drug development to maintain their market positions as competition in the obesity market intensifies [16] Competitive Landscape - The obesity market is projected to expand to $100 billion by 2030, with increasing competition from companies like Amgen and Viking Therapeutics developing GLP-1-based candidates [16][18] - Lilly's Zepbound has shown better performance than Wegovy in weight-loss studies, potentially shifting patient preference [15] Financial Metrics - The Zacks Consensus Estimate for Lilly's 2025 sales and EPS implies year-over-year increases of 33.2% and 81.1%, respectively [20] - The Zacks Consensus Estimate for Novo Nordisk's 2025 sales and EPS implies year-over-year increases of 17.6% and 15.9%, respectively [22] - Lilly's stock has declined by 6.1% year-to-date, while Novo Nordisk's stock has dropped by 25.1% [25] Valuation - Lilly's shares trade at a forward price/earnings ratio of 28.25, higher than Novo Nordisk's 15.88 [28] - Lilly's dividend yield is 0.8%, while Novo Nordisk's is around 2.6% [29] Market Position - Lilly has a market cap of approximately $700 billion, significantly larger than Novo Nordisk's market cap of around $281 billion [34]