Novo's CagriSema Delivered 25% Weight Loss in Women. Could It Help Turn Around the Beaten-Down Stock?

Novo Nordisk announced Phase 3 trial results for CagriSema, its next-generation obesity drug combining semaglutide and cagrilintide, showing 25% mean weight loss in women compared to 3% for placebo. While results are competitive with existing treatments like Eli Lilly's Zepbound (26% efficacy), they are not superior enough to significantly recapture market share from Eli Lilly's dominant position. The modest investor reaction suggests the drug alone may not materially improve Novo Nordisk's fortunes, though the company's broader pipeline in other therapeutic areas remains a potential catalyst.