丹麦制药巨头诺和诺德（NVO）今日盘中股价大跌8.08%，延续了该公司近期的下行趋势，反映出投资者对公司在竞争激烈的减肥药市场中面临的挑战日益担忧。
诺和诺德股价下跌的主要原因包括：
1. 来自竞争对手的压力不断增大。礼来公司（LLY）的GLP-1减肥药替尔泊肽在头对头临床试验中显示出优于诺和诺德明星产品司美格鲁肽的效果，这可能会侵蚀诺和诺德的市场份额。
2. 诺和诺德新一代GLP-1药物的临床结果不及预期。公司新产品CagriSema和Monlunabant的表现一般，没有比同期的替尔泊肽更优，削弱了投资者对公司未来产品线的信心。
3. 市场开始关注司美格鲁肽（Ozempic/Wegovy）在未来几年面临的专利到期问题。中国和印度的专利将于2026年到期，美国则为2031年，这可能会影响公司的长期盈利能力。
值得注意的是，诺和诺德的股价自去年年中以来已经出现大幅回调。公司市值从去年的峰值6000亿美元大幅缩水，目前市盈率已降至20倍以下。这一估值调整反映了市场对医药股，特别是大型制药公司长期增长前景的谨慎态度。
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