Novo CEO accepts R&D setbacks as CagriSema posts more mixed data and Novo eyes M&A

Novo Nordisk CEO Mike Doustdar acknowledged 'a couple of setbacks' in R&D following mixed data for CagriSema and the ziltivekimab cardiovascular candidate.

CagriSema, Novo's amylin analog cagrilintide plus GLP-1 semaglutide, failed to match tirzepatide on blood sugar control in a Type 2 diabetes Phase 3 trial, although it was non-inferior for weight loss.

Despite the setbacks, Doustdar stressed Novo's robust pipeline and signalled intent to pursue 'bolt-on' acquisitions to bolster its innovation pipeline.

A recent head-to-head trial showed CagriSema produced 23% weight loss at 84 weeks versus 25.5% for tirzepatide (Zepbound), widening Eli Lilly's lead in the obesity drug market.

Novo continues to position CagriSema as a valuable future product and is preparing for regulatory filings while planning additional trials and higher‑dose strategies to strengthen its profile.

Simultaneously, Novo raised its full‑year profit outlook, but investors expressed concerns over CagriSema's commercial viability and the broader R&D pipeline.