BofA analyst Sachin Jain notes that Novo Nordisk (NVO) shares are down about 25%, which is “what we expected in this data scenario,” as CagriSema weight loss data is not as differentiated compared to Eli Lilly’s (LLY) Zepbound as was expected. Weight loss in the REDEFINE 1 trial at about 20.4% is “essentially in line” with Zepbound at 21%, and not high enough to create a barrier relative to future competition, says the analyst. With that said, the data is still superior to Wegovy and sufficient for commercialization and likely switch ahead of semaglutide loss of expiration in 2031, adds the analyst, who has a Buy rating and DKK 1,075 price target on Novo shares.
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Read More on NVO:
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