Novo's Martin Holst Lange Talks New Weight Loss Shot
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Time now for some top calls, the analyst action that we are following. First up, Jefferies cuts Deere to a sell, saying the stock already reflects a full recovery in farm demand. The firm also warned that higher costs, trade uncertainty, and heavy debt could hamper the company's recovery. Next up, Wells Fargo, they upgrade Alphabet to a buy, calling it an AI winner with strengths in consumer data, distribution, and compute capacity shares only up 0.2%. And finally, Bank of America downgrades General Mills, saying its recovery story is not playing out. The firm says hopes for a pet rebound instead of sales have stalled as shoppers pull back. Elsewhere, Novo Nordisk's next-generation obesity shot, Kagrisema, underperformed Eli Lilly's Terzepratide in a head-to-head trial.
Let's bring in Novo Nordisk's chief scientific officer, Martin Hoslong, on this. Martin, thank you so much for joining us this morning. And I just want to bring you a comment from a shareholder of Novo Nordisk, of Global Health Invest. Novo noticed this opportunity to make a comeback in the fight against Lilly. This was it. This obviously weakens them in a fight. What would be your message to those who believe the same thing, who have looked at this study and said, now this means Novo is falling even further behind Eli Lilly?
I would answer, it's been a few years since we designed the redefined program, the program to show the weight loss potential of Calc with Sema. We already last year learned that to really see the true weight loss potential of CAGROSEMA, it is a very powerful combination of two molecules. We need to have what we call a bespoke titration algorithms to really allow patients to titrate the very powerful treatment in the way that they prefer. We could see from the first study that that could be further optimized. In this setting, we could not manage to implement those learnings in what we call redefined form, which is the study that we discussed today. So the jury is still out of what can kagrisema actually achieve.
In the study that read out today, we saw 23% weight loss with kagrisema. That is actually very substantial, and it is among the best weight losses that we've seen, also amongst drugs in the market.
Right. Of course, just sort of the sore point in that, if I can jump in, Martin, is just the comparison to Lilly. It will forever be there. So what is the plan then to catch up with them?
Yeah, exactly. So first of all, the 23% weight loss that we saw with the Cagrosema is in line with what we've previously seen. The 25%, which we saw with the comparator drug, is actually the best data that has been seen so far in similar trials, which is a little bit surprising, but it stands alone in terms of that 25%. But we've also taken a lot of learnings in terms of how we can improve the titration for chagrissima.
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