UBS has given Novo Nordisk a "Neutral" rating and set a target price of 1,100 Danish crowns.

According to analyst Jo Walton, the slimming drug Cagrisema did not meet expectations, as it only resulted in a weight reduction of 20.4 percent instead of the anticipated 25 percent. This puts Cagrisema on the same level as Eli Lilly's Zepbound, raising concerns about its competitiveness in the market.

Walton also mentioned negative signals regarding the drug Amycretin, which uses a similar approach. The analyst suggests that future developments in the sector may shift focus from efficacy to factors such as availability, tolerability, and the convenience of oral administration.

The original study was disclosed on December 20, 2024.