If you think GLP‐1s are the endgame, think again: on 2025‐11‐06 Novo Nordisk reported CagriSema cut systolic blood pressure by 10.9 mmHg and hs‐CRP by 68.9% over 68 weeks — outperforming semaglutide and placebo — and regulators may see filings in early 2026. You’ll get broader benefits: Redefine‐5 showed 18.4% mean weight loss for CagriSema versus 11.9% for semaglutide, and orforglipron (oral) delivered ~11% weight loss at 72 weeks. Startups (e.g., Syntis Bio) promise surgery‐mimetic capsules with human data due 2026. Why care? These multi‐agonists and new modalities shift value from pure weight loss to cardiovascular, inflammatory and patient‐experience endpoints, altering payer economics, trial design, manufacturing and go‐to‐market plans. Next inflection points: CagriSema regulatory milestones in Q1 2026 and upcoming Phase‐3/long‐term safety data that will set commercialization and pricing dynamics.

Novo Nordisk on Nov. 6, 2025 reported Phase III REDEFINE‐1 data showing CagriSema (cagrilintide+semaglutide) over 68 weeks reduced systolic blood pressure by 10.9 mm Hg versus 8.8 mm Hg for semaglutide alone and 2.1 mm Hg for placebo, and cut hs‐CRP by 68.9% versus 55.4% and 16%; Novo aims to file for approval in early 2026. REDEFINE‐2 showed 15.7% weight loss in people with type 2 diabetes—below ~22–24% seen in nondiabetic arms—prompting investor concern. Retatrutide’s highest dose delivered 24.2% mean weight loss at 48 weeks and is in Phase 3. Regulators are pressing for cardiovascular outcome trials (REDEFINE‐3 is in progress), shifting benchmarks from weight loss alone to hard CV and inflammatory outcomes; near‐term catalysts include an FDA decision on oral semaglutide (year‐end 2025) and retatrutide Phase‐3 readouts (late 2025/early 2026).