0908 GMT - Novo Nordisk shares will likely remain under pressure in the near term following disappointing CagriSema weight-loss drug data, Berenberg analysts write. The company still offers superior sales growth until the end of the decade, but its CagriSema woes have brought the patent expiry of semaglutide--the main ingredient in Ozempic and Wegovy--into full focus. "Novo's obesity pipeline remains more limited than Eli Lilly's and the competitive threat of an oral GLP-1 with equivalence to Wegovy weighs heavy." The bank says consensus Wegovy expectations are too high, and notes a growing preference for Lilly's Zepbound over Novo's Wegovy. Berenberg lowers its price target to 610 Danish kroner from 725 kroner and reiterates its hold rating. Shares fall 0.9% to 524 kroner. (dominic.chopping@wsj.com)
(END) Dow Jones Newswires
March 24, 2025 05:08 ET (09:08 GMT)
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