** J.P.Morgan sees Zealand Pharma's ZELA.CO share price drop on Friday, triggered by disappointing Novo's NOVOb.CO CagriSema obesity drug trial results, as a buying opportunity
** The brokerage still sees potential in Zealand's obesity drug petrelintide in 2025, and rate the stock "overweight"
** Commenting on CagriSema results, it notes that while combo (amylin + semaglutide) was below expectations, the amylin mono headline data met expectations and showed good tolerability
** This bodes well for petrelintide, Zealand's investigational long-acting amylin analog, which showed stronger efficacy in Phase I, JPM says
** Zealand's CEO told Reuters that Cagrisema results support the company's monotherapy approach
** JPM forecasts $10 billion peak potential for petrelintide, assuming it takes 1/3 market share of GLP-1 intolerant patients
** It sees a good chance of Zealand partnering petrelintide by the end of 2025
** Zealand Pharma shares are down 15% at 0200 pm GMT, on track for worst day since March 2020
(Reporting by Vera Dvorakova)
((vera.dvorakova@thomsonreuters.com))
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