x-propagation

Added so much $nktr through the day now $15 below offering price. EV below peak sales for just AtD

🧵Earlier this week, I questioned RFK Jr. on Marty Makary’s incompetent leadership of the FDA. RFK Jr. could not defend Marty Makary. The commissioner needs to be fired. Here’s why:

🚨 NOVO'S HIGHER-DOSE LOOKS A LOT MORE COMPETITIVE $NVO just got a much-needed obesity headline. The News Novo Nordisk presented new STEP UP analyses at ECO showing that early responders to Wegovy 7.2 mg lost 27.7% of body weight by week 72. Across the full trial, semaglutide 7.2 mg delivered 20.7% average weight loss, versus 17.5% for Wegovy 2.4 mg and 2.4% for placebo. Novo also reported that 84% of the weight loss came from fat mass, with muscle function preserved in a smaller MRI sub-study. My Take This is a positive update and Novo needed this. The market has increasingly framed obesity as “ $LLY has the better drug, Novo is playing defence.” These data do not erase that narrative per se, but they do weaken it. High-dose Wegovy gives Novo a stronger efficacy story, narrows the gap versus next-gen competitors, and helps address one of the big concerns around GLP-1 weight loss,which is muscle loss. That said, the 27.7% figure is from early responders, not the whole population. The more important number is still the full-trial 20.7% average loss. Verdict: Bullish Not thesis-changing on its own, but clearly supportive. Which still helps, considering the current sentiment. In my view, this strengthens Novo’s obesity franchise and gives the company a better answer to the “Wegovy is falling behind” narrative. Novo is still under pressure, but this is exactly the kind of data it needs now.