本文源自：金融界AI电报 诺和诺德欧股股价下跌11%。公司表示，在试验中，其CagriSema的效果不及礼来的Zepbound。 ...

Core Viewpoint - Novo Nordisk shares faced pressure due to a head-to-head study indicating that its drug in development was less effective in weight loss compared to a product from Eli Lilly [1] Company Summary - Novo Nordisk is a Danish pharmaceutical company currently experiencing challenges with its drug development [1] - The company's recent study results have raised concerns about its competitive position in the market against Eli Lilly [1] Industry Summary - The pharmaceutical industry is witnessing intense competition, particularly in the weight loss drug segment, where efficacy is a critical factor for market success [1] - Eli Lilly's product has set a benchmark that other companies, including Novo Nordisk, must meet or exceed to remain competitive [1]

Core Viewpoint - Novo Nordisk's stock experienced a decline of over 10% following the announcement that its next-generation weight loss drug, CagriSema, did not meet its primary target of non-inferiority in weight loss compared to Eli Lilly's drug, tirzepatide, after 84 weeks [1] Group 1 - CagriSema failed to achieve its primary endpoint in the clinical trial [1] - Eli Lilly's stock saw an increase of 2.1% in premarket trading as a result of Novo Nordisk's announcement [1] - Novo Nordisk is considering additional trials for CagriSema, including testing higher-dose combinations [1]

格隆汇2月23日｜在CagriSema数据公布后，诺和诺德盘前下跌11%。消息面上，诺和诺德表示，在试验 中CagriSema的效果不及礼来的Zepbound。 ...

Group 1 - Novo Nordisk's experimental obesity drug CagriSema did not meet the primary endpoint in a trial aimed at demonstrating non-inferiority to Eli Lilly's Tirzepatide in terms of body weight reduction [1] - The trial results indicate a setback for Novo Nordisk in the competitive obesity drug market, where Eli Lilly's Tirzepatide has shown strong performance [1] - This development may impact Novo Nordisk's market position and future growth prospects in the obesity treatment sector [1]

Rolls-Royce share price targets 1,500p ahead of earnings and buyback - Invezz# Rolls-Royce share price targets 1,500p ahead of earnings and buyback[Europe]Author[Crispus Nyaga]Feb 23, 2026, 09:22 AM- The company will also announce strong financial results.- Sky News reported that the company will announce a new buyback this week.- Rolls-Royce stock price surged to a record high this month.Rolls-Royce share price continued soaring last week and reached a record high as market participants waited for its fina ...

Investment Rating - The report maintains a "Recommended" rating for the pharmaceutical industry [5] Core Insights - The underlying logic of the current pharmaceutical industry era is innovation and international expansion, with a focus on innovative drugs and technology-driven sectors [2][3] - The report highlights the strong performance of the CRO market and suggests a dual investment strategy focusing on both "0 to 1" technology innovation and low-position stocks [2][3] - The report emphasizes the ongoing trend of BD (Business Development) transactions in innovative drugs, with significant growth expected in 2026 [4][15] Summary by Sections 1. Key Events in the Pharmaceutical Industry During the Spring Festival - Innovative drug BD transactions have seen a strong start, with significant overseas development and registration progress for key products [13][14] - The total amount of BD transactions for innovative drugs in China for 2026 has already surpassed one-third of the total for 2025 [15] - The revision of the National Essential Medicines List Management Measures may signal changes in the essential medicines directory [28] 2. Pharmaceutical Market Review and Hotspot Tracking - The pharmaceutical sector's performance was relatively weak, with a weekly decline of 0.81%, ranking 20th among all industries [34][38] - The total trading volume for pharmaceuticals was 401.12 billion yuan, accounting for 3.83% of the total market, below the historical average of 7.09% [55] - The report notes a rising valuation level for the pharmaceutical industry, with a PE ratio of 29.25, which is below the historical average [52] 3. Stock Performance Review - The report lists the top-performing stocks, including Dongyangguang and Zhendemedical, while highlighting the underperformers like Huayuan Biology and *ST Sailong [58][59]

Group 1: Clinical Trial Results - Eli Lilly's TOGETHER-PsO trial showed that 27.1% of participants receiving Taltz and Zepbound achieved complete skin clearance and at least 10% weight loss, compared to 5.8% for Taltz alone, meeting the primary endpoint [2] - The combination of Taltz and Zepbound resulted in a 40% relative increase in the proportion of patients achieving PASI 100 compared to Taltz monotherapy (40.6% vs. 29%) [2] Group 2: Licensing Agreement - CSL Limited entered into an exclusive licensing agreement with Eli Lilly for the development and commercialization of clazakizumab, with an upfront payment of $100 million and potential milestone payments and royalties on global net sales [4] - CSL retains exclusive rights to develop clazakizumab for preventing cardiovascular events in patients with end-stage kidney disease, while Lilly will explore additional indications [5] Group 3: Stock Performance - The stock is currently trading 2.7% below its 20-day simple moving average and 3.2% below its 50-day simple moving average, indicating short-term weakness, but remains 4.3% above its 100-day simple moving average and 17.6% above its 200-day simple moving average, suggesting longer-term strength [7] - The RSI is at 48.22, indicating neutral territory, while the MACD shows bearish pressure with a value of -5.0984 below its signal line of -3.9365 [8]

来源：中国基金报 万亿外资巨头又调仓了！ 根据美国证券交易委员会（SEC）披露，近日资管巨头贝莱德递交了截至2025年12月31日的第四季度持 仓报告（13F）。 根据13F，贝莱德第四季度持仓总市值为5.92万亿美元，环比增长3.67%。去年第四季度，贝莱德投资组 合中新增了247只个股，清仓165只个股。其中，前十大重仓股占总市值30.41%。 具体来看，前五大买入标的为谷歌-A、谷歌-C、礼来、美光（MU.US）、苹果。前五大卖出标的为标 普500ETF-SPDR CALL（SPY.US.CALL）、ServiceNow（NOW.US）、Strategy（MSTR.US）、AT&T （T.US）、Kellanova （K，现已退市）。 "前十大"科技含量较高 增持英伟达、苹果、微软等 根据13F，贝莱德持有的前十大重仓股科技含量较高，具体包括：英伟达（NVDA.US）、苹果 （AAPL.US）、微软（MSFT.US）、亚马逊（AMZN.US）、谷歌-A（GOOGL.US）、博通 （AVGO.US）、谷歌-C（GOOG.US）、META（META.US）、特斯拉（TSLA.US）、礼来 （LLY.US）等 ...

But it's good news for Eli Lilly, too.Novo Nordisk (NVO 2.05%) has struggled over the past year, and the company recently hit another setback when it reported disappointing fourth-quarter results and even worse guidance for fiscal year 2026. The stock price fell by nearly 15% following these developments.However, there are several things to look forward to for Novo Nordisk. One of them is its recent launch of an oral version of its famous weight loss drug, Wegovy. And regarding this product, Novo Nordisk ju ...