Core Viewpoint - Novo Nordisk's oral GLP-1 weight loss drug, semaglutide, was officially launched in the U.S. on January 5, 2026, just two weeks after FDA approval, marking a significant milestone in the weight loss medication market [3][4]. Group 1: Novo Nordisk's Product Launch - The stock price of Novo Nordisk surged over 5% following the launch, while competitor Eli Lilly's stock fell by 3.6% [4]. - The monthly treatment cost for self-paying patients ranges from $149 to $299, significantly lower than the initial $1,000 monthly cost for the injectable version [4]. - The starting dose of oral semaglutide is 1.5 mg, priced at $149 per month, with a planned price increase for higher doses after April 15 [4]. - In a clinical trial involving over 300 obese but non-diabetic adults, patients on the highest dose of oral semaglutide lost an average of 16.6% of their body weight over 64 weeks [4]. Group 2: Competitive Landscape - Eli Lilly's oral GLP-1 weight loss drug, orforglipron, is expected to receive approval in the first quarter of 2026, with clinical data showing an average weight loss of 10.5% at the highest dose [5]. - The oral weight loss medication market is projected to capture 24% of the global weight loss therapy market by 2030, estimated at $950 billion, translating to a market size of approximately $22 billion for oral medications [5]. - Eli Lilly's orforglipron is anticipated to hold about 60% of the oral weight loss drug market, valued at approximately $13.6 billion, while Novo Nordisk's oral semaglutide is expected to capture around 21% of the market, worth about $4 billion [5].

从价格上来看，日本司美格鲁肽口服片剂售价几乎是全球最低。 诺和诺德的GLP-1药物司美格鲁肽口服版减重药有望今年年内获得美国FDA批准上市，目前全球范围都还没有任何一款用于减重适应症的GLP-1类口服药上 市，包括日本在内，美格鲁肽口服片剂在全球获批的适应症均用于治疗2型糖尿病。 然而，在国内的一些大型电商平台上，充斥着大量打着"口服""减重""瘦身""司美"标签的在售商品。这些商品大部分来自日本，从香港发货。 11月30日，第一财经记者在某大型电商平台上搜索"口服司美格鲁肽"发现，"司美瘦身版片服3mg"以及"司美瘦身版片服7mg"两种剂量占大多数，且标注"拆 盒"，配图为"日本索马鲁肽片"（即司美格鲁肽），药盒上显示诺和诺德与MSD两家公司商标。 价格方面，以"万淘医药海外旗舰店"为例，7mg剂量口服司美格鲁肽20片售价638元，3mg剂量售价为100片1498元。 记者还注意到，部分相关产品销售达数千件，提供此类产品的相关店铺大部分为海外商店，几乎所有此类商品介绍均为"日本原装""香港直邮"。 12月1日，在第一财经记者向诺和诺德中国公司就相关电商平台的此类销售行为是否合规进行询问后，截至发稿，所有平台 ...