Category Archives: GLP-1RA

TRIUMPH-5 is All Triumph

With the full results presentation of TRIUMPH-2 for Lilly’s retatrutide today at EASD 2026 (previous FENIX insight), the FENIX team was debating the utility of conducting TRIUMPH-5. Recall, Lilly’s own H2H trial of retatrutide vs. tirzepatide in weight management popped up on CT.gov in Oct 2024 and has topline results projected in Q1 ’27, maybe around JPM week or earnings in late January. Interestingly, the FENIX team’s clarity at breakfast changed after the TRIUMPH-2 results presentation this morning. We pull back the curtain below.

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EASD 2026 Key Press Releases (September 30)

On the third day of EASD 2026, four key news items were observed from Lilly, Zealand Pharma, Novo/Ro, and NewAmsterdam Pharma. Below, FENIX provides context and analysis for the announcements.

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EASD 2026 Key Press Releases (September 29)

On the second day of EASD 2026, seven key news items were observed from Novo/Hengrui, Lilly, Caspian Therapeutics, Merck/Cyprumed GmbH, and Oura. Below, FENIX provides context and analysis for the announcements.

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EASD 2026 Key Press Releases (September 28)

On the first day of EASD 2026, six key news items were observed from Roche, Tandem Diabetes Care, Dexcom, Lilly, MindRank, and DreaMed Diabetes. Below, FENIX provides context and analysis for the announcements.

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Negative Nancy: Novo 2026 Capital Markets Day Highlights and Analysis Part 3

Part 3 of FENIX’s 2026 Novo CMD coverage recaps the company’s strategy to navigate and grow through the eventual sema LOE, arguably the biggest headwind in the company’s 100+ year history. Below, FENIX outlines several key factors that could influence Novo’s ability to navigate the difficult period, including the speculative hypothesis that Lilly gets to decide whether Novo will pursue generic tirzepatide.

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EASD 2026 Preview: Where FENIX will be paying attention and why

With EASD 2026 approaching (September 28-October 2; Milan, Italy), FENIX has compiled a short list of key sessions and presentations that warrant close attention. While EASD brings new data and fresh perspectives across the cardiometabolic space each year, the list below focuses exclusively on the sessions with potential to shape this year’s conference narrative and ultimately have an outsized impact on the field for years to come.

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Onswik FDA Approval; Lilly Medicare GLP-1 Bridge Program Market Share; BI + WHO Global Metabolic Health Collaboration; Roche + Atavistik Partner for Allosteric Drug Discovery; Aqua Medical T2DM Endoscopic Procedure; Biolinq Shine OTC FDA Clearance; Rezera RESOLVE-1 AHA Presentation

A series of cardiometabolic-related news items has been observed from Lilly, BI/WHO, Roche/Atavistik Bio, Aqua Medical, Biolinq, and Rezera. Below, FENIX provides highlights and insights for the respective news items.

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Viking Pops 31% on Maintenance Data; Roche Ph2 Enicepatide Results; New Lilly Manufacturing Facility; Obi Approved in the EU; Petrelintide Ph3 Program

A series of cardiometabolic-related news items has been observed from Viking Therapeutics, Roche, Lilly, NewAmsterdam Pharma, and Zealand Pharma. The news items seemingly come hot on the heels of Novo’s obesity-centric Capital Markets Day held Monday. Below, FENIX provides highlights and insights for the respective news items.

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Positive Pants Part 2: Novo 2026 Capital Markets Day Highlights and Analysis

Part 2 of FENIX’s 2026 Novo CMD coverage recaps commentary on US commercial operations, global manufacturing & supply, and international operations. Each of these three components is viewed as integral to Novo’s future success while it attempts to maintain (and grow) its place in the CVRM market ahead of the onslaught of obesity competitors looking to eat its lunch.

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Positive Pants Part 1: Novo 2026 Capital Markets Day Highlights and Analysis

Novo hosted its 2026 Capital Markets Day and provided updates on the strategic direction of the company across key commercial and R&D activities (view slides). While The Street and media sentiment seemed to be unduly negative on Novo’s direction (as evidenced by the -8% drop in the stock price), it appears the ongoing strong Wegovy pill launch and impending cagrisema launch should position the company to meet its operational targets in the next 3-5 years. However, the company may be challenged in the longer term, particularly as semaglutide approaches broader LOE. Below, FENIX provides details and insights from the event in Part 1 of 2. Part 2 will cover the importance of manufacturing and commercial execution with reflections from our May 2025 Obesity Spotlight on Novo Nordisk.

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