Novo described new findings that point to stronger outcomes for women on CagriSema than in the broader mixed-gender population from the phase 3 trial. The company also said the exploratory analyses need further validation, even as the data add to signs the candidate could top the weight loss and other effects of semaglutide, the GLP-1 active in Wegovy and Ozempic.
CagriSema combines semaglutide with cagrilintide, which works through the amylin pathway involved in satiety. The company anticipates an early-next-year launch. Novo and Eli Lilly are both leaning into amylin-based approaches to extend growth beyond today's GLP-1 drugs.
Evaluating a group of around 2,300 women with obesity or overweight, CagriSema produced a 25% average weight reduction at 68 weeks versus 3% with placebo, based on an idealized view where everyone stayed on treatment without breaks. A second look at roughly 1,900 women sorted by menopausal status showed 26.7%, 24.8%, and 23.1% weight loss at 68 weeks for premenopausal, perimenopausal, and postmenopausal groups, respectively, if all remained on therapy, compared with approximately 2% across those groups on placebo.
Across both analyses, Novo said the drug was associated with smaller waist measurements, indicating less abdominal fat, both overall and within each menopause category. For context, initial phase 3 results in adults showed 22.7% average weight loss at 68 weeks with CagriSema versus 2.3% with placebo, and about 67% of the roughly 3,400 participants were women.
When companies release complex clinical results, it helps to get clear context, so sign up for the free Market Briefs newsletter
Novo noted that many women add weight as they transition through menopause. Falling estrogen can slow metabolism, which can make putting on pounds easier and holding onto muscle tougher. After menopause, estrogen generally stays at a low level rather than rebounding.
The U.S. Census Bureau counts over 86 million women in the U.S. who are 40 or older, the age range where peri, menopause, and the years after typically occur.
Despite these updates, investor enthusiasm has been subdued since the prior late-stage readout failed to meet lofty expectations. Novo maintains CagriSema is both effective and distinct enough from its existing portfolio to drive substantial demand, and a FactSet consensus has it generating $11.84 billion in 2028 obesity sales. For portfolios exposed to obesity care, watch the validation work on these analyses, the waist reduction signal, and the expected launch timing to gauge how this candidate might stack up against entrenched GLP-1 franchises.
Whether you follow biotech news or broader markets, get a five minute snapshot each morning with Market Briefs for free
