Novo Nordisk Advances CagriSema Device Study, Reinforcing Its Obesity Pipeline

Novo Nordisk (NVO) announced an update on their ongoing clinical study.

Novo Nordisk is preparing a new Phase 3 trial that compares two injection versions of its experimental obesity drug CagriSema against placebo in adults with excess body weight. Officially titled “A Placebo-controlled Comparability Study to Compare Two Presentations of CagriSema in Participants With Overweight or Obesity,” the study aims to confirm that different injection devices deliver similar weight-loss results and safety. This is important because it helps Novo Nordisk refine how the drug could be used in real-world practice, a key step before broader commercialization.

The study tests CagriSema, a once-weekly injectable drug that combines two active components, cagrilintide and semaglutide, designed to support weight loss in people with overweight or obesity. Participants will receive CagriSema using one of two injection devices, or a placebo in both devices, with all injections given under the skin. The goal is to see whether both device versions work similarly while maintaining a good safety profile.

The trial is an interventional Phase 3 study with participants randomly assigned to one of three groups: CagriSema in device 1 plus placebo in device 2, CagriSema in device 2 plus placebo in device 1, or placebo in both devices. The trial uses a parallel design, meaning each participant stays in the same group throughout. It is “quadruple-blind,” so participants, treating doctors, trial staff, and outcome assessors do not know who receives active drug or placebo. The main aim is treatment-focused: to measure weight loss and compare how well the two device versions perform.

The study is not yet recruiting. It was first submitted on January 21, 2026, and last updated on the same date, signaling that the protocol is recent and still in setup. Primary completion and overall completion dates are not yet listed, but the planned treatment period is about one year per participant. Investors should view this as an early signal in the Phase 3 timeline rather than a near-term data catalyst.

For investors, this update reinforces Novo Nordisk’s strategy to broaden and optimize its obesity portfolio beyond current blockbusters like Wegovy. A successful comparability study would support flexible device options, which can ease scaling, improve patient convenience, and protect pricing power. The trial does not change near-term revenue, but it strengthens the medium- to long-term pipeline narrative, which can help sustain premium valuation multiples. Competitors in obesity care, including Eli Lilly with its incretin drugs, face growing pressure as Novo Nordisk invests to lock in device and formulation advantages. Market reaction may be modest now, but ongoing progress in CagriSema can support positive sentiment toward NVO as the obesity market expands. The study is currently in setup and will be updated further, with more details available on the ClinicalTrials portal.

To learn more about NVO’s potential, visit the Novo Nordisk drug pipeline page.