EXCLUSIVE: Weight-Loss Duopoly Breaks As Eli Lilly, Novo Plummet; 'Market Won't Be Dominated By Just 2 Players'
EXCLUSIVE: Weight-Loss Duopoly Breaks As Eli Lilly, Novo Plummet; 'Market Won't Be Dominated By Just 2 Players'
GLP-1 market leaders Eli Lilly and Company (NYSE:LLY) and Novo Nordisk A/S (NYSE:NVO) faced a significant selloff on Thursday, as new weight-loss drugs from rival pharmaceutical companies began threatening the dominance of their flagship products, Zepbound and Wegovy.
GLP-1市場領導者禮來公司(紐交所:LLY)和諾和諾德公司(紐交所:NVO)在週四面臨重大拋售壓力,因爲來自競爭製藥公司的新的減重藥物開始威脅它們旗艦產品Zepbound和Wegovy的優勢地位。
Shares of Eli Lilly plummeted by 6.3%, marking their worst daily performance since March 2021. In the last two sessions, they have dropped by over 10%, registering the worst two-day downside since March 2020. Similarly, shares of Dutch pharmaceutical giant Novo Nordisk A/S fell 4%.
伊利莎白股票大跌6.3%,創下自2021年3月以來的最差表現。在過去的兩個交易日中,它們下跌超過10%,創下自2020年3月以來的最差兩天下跌。同樣,荷蘭製藥巨頭諾和諾德A / S的股票下跌了4%。
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Weight-Loss Market Sees New Entrants
減肥市場迎來新的參與者
"This week is a prime (early) example of why biotech risk needs to be managed and why a Magnificent 7 approach to biotech doesn't work," Maurits Pot, founder and CEO at Tema ETFs, exclusively told Benzinga.
“這個星期是生物科技風險需要管理的一個主要例子,也是爲什麼一種崇高的前7種方法不起作用的一個主要例子,” Tema ETFs的創始人兼首席執行官Maurits Pot專門告訴Benzinga。
The two weight-loss giants have seen their duopoly position threatened by the entry of new players. First, Pfizer Inc. (NYSE:PFE) and then Roche Holding Ltd (OTCPK: RHHBY) announced advancements in the development of obesity-fighting drugs.
兩個減肥巨頭的壟斷地位受到新玩家的威脅。首先,輝瑞公司(NYSE:PFE),然後是羅氏控股有限公司(OTCPK:RHHBY)宣佈了抗肥胖藥物研發的進展。
However, Pot shows cautiousness in these early findings. "The initial Roche data on oral small molecule GLP-1 agonist was encouraging but important to note the patient size was only 25, we expect further details in an upcoming medical meeting," Pot stated.
然而,Pot在這些初步研究結果中保持謹慎。“羅氏有關口服小分子GLP-1激動劑的初步數據令人鼓舞,但重要的是注意患者人數僅爲25人,我們預計會在即將召開的醫學會議上得到更多詳細信息,” Pot說。
"Pfizer has had a number of prior setbacks with the early danuglipron formulation," he said. This development suggests that Pfizer will now compete closely with Chugai Pharmaceuticals, the first-mover with its oral nonpeptide GLP-1 agonist, orforglipron, which sets a high bar.
他說:“輝瑞以前已經有過幾次早期danuglipron製劑的挫敗。”此次發展表明輝瑞現在將與第一位推出口服非肽GLP-1激動劑orforglipron的第一推手中外製藥公司展開激烈競爭,這將設定一個高門檻。
"Pfizer's focus on danuglipron is likely to temper any immediate interest in GLP-1 mergers and acquisitions," Pot added.
Pot補充道:“輝瑞將重點放在danuglipron上,可能會抑制對GLP-1的即時興趣與收購。”
Pot also foresees further developments from other companies, including AstraZeneca plc (NASDAQ:AZN), indicating that the GLP-1 market could eventually include up to five credible players alongside Novo and Lilly.
Pot還預見到其他公司的進一步發展,包括阿斯利康股份有限公司(NASDAQ:AZN),表明GLP-1市場最終可能包括Novo和Lilly之外的最多五家可信的參與者。
Diversification Is Crucial In This Industry
在這個行業中,多樣化至關重要
Since the inception of the Tema GLP-1, Obesity and Cardiometabolic ETF (NYSE:HRTS) fund, Tema has consistently believed that the fast-evolving "GLP-1 market won't be dominated by just two players."
自Tema GLP-1,肥胖和心腦血管ETF(NYSE:HRTS)基金成立以來,Tema一直認爲快速發展的“GLP-1市場不會僅被兩個參與者所佔據。”
Pot explained that the HRTS portfolio reflects this conviction, maintaining decent exposure to both NOVO and LLY while avoiding overly concentrated positions of 30-40% in these companies.
Pot解釋說,HRTS組合反映了這種信念,保持對NOVO和LLY的足夠曝光,同時避免在這些公司中過度集中的頭寸達到30-40%。
"The HRTS portfolio leverages Tema's deep biotech expertise to identify early emerging next-generation GLP-1 players beyond NOVO and LLY," the expert said.
專家說:“HRTS組合利用Tema的深度生物醫療專業知識來確定早期新興的下一代GLP-1參與者,除NOVO和LLY外,這些參與者正在崛起。”
Pot highlighted that Tema has been an early investor in several next-generation GLP-1 players such as Amgen Inc. (NASDAQ:AMGN), Terns Pharmaceuticals Inc. (NASDAQ:TERN), Chugai, Zealand Pharma A/S (OTCPK: ZLDFF), and Viking Therapeutics Inc. (NASDAQ:VKTX).
Pot強調,Tema一直是幾個下一代GLP-1參與者的早期投資者,例如Amgen Inc.(NASDAQ:AMGN),Terns Pharmaceuticals Inc.(NASDAQ:TERN),中外製藥,Zealand Pharma A / S(OTCPK:ZLDFF)和Viking Therapeutics Inc.(NASDAQ:VKTX)。