Novo Nordisk faces complex GLP-1 landscape as oral launch patterns diverge from injectables

The cardinal takeaway acrophobic the motorboat of Novo's oral semaglutide product, wherever the institution confirmed that dose escalation patterns are not yet mirroring the trajectory seen with its injectable formulations.

Data seizure done IQVIA, the healthcare analytics provider, has improved to astir 65%, with 90% of prescriptions remaining successful the cash-pay transmission alternatively than being covered by insurance.

On the injectable side, competitory pressures are mounting. Canadian terms discounting has reached 40% to 65%, portion US compounding of semaglutide (the progressive constituent successful Ozempic and Wegovy) appears to person peaked.

However, existing compounded proviso is apt to beryllium sticky, with astir 1.5 cardinal patients inactive utilizing compounded versions of the drug, sourced wholly from Chinese progressive pharmaceutical constituent suppliers.

Deutsche Bank's Emmanuel Papadakis noted that discussions besides covered the broader pricing environment, the navigability of semaglutide's eventual nonaccomplishment of exclusivity, the company's concern improvement outlook, and its pipeline assets, including cagrisema, zenagamtide and its myostatin programmes.

At DKK288, the shares are conscionable nether the people price, reflecting the finely balanced hazard illustration Deutsche Bank sees for the stock.