Novo Nordisk (NOVO.B) Stock: The $2 Billion Weight Loss Drug That Just Proved Its Worth

TLDR

• UBT251 produced mean weight loss of up to 19.7% after 24 weeks in a mid-stage Chinese trial
• The drug targets three hormones — GLP-1, GIP, and glucagon — earning it the “triple G” label
• Side effects were mild to moderate and decreased over time
• Results arrive one day after CagriSema failed to beat Eli Lilly’s Zepbound in a head-to-head trial
• Novo holds global rights to UBT251 under a deal worth up to $2 billion signed in March 2025

Novo Nordisk and United Laboratories International reported Tuesday that their experimental obesity drug UBT251 achieved mean weight loss of up to 19.7% after 24 weeks in a mid-stage clinical trial in China.

The placebo group lost just 2.0% over the same period. Patients started from a baseline mean body weight of 92.2 kg.

Novo Nordisk A/S, NVO

The trial tested different once-weekly injectable doses of UBT251 against placebo in Chinese patients with overweight or obesity. Patients also improved on secondary goals including waist circumference, blood glucose, and blood pressure.

Side effects were mild to moderate gastrointestinal in nature and reduced over time. The companies described the profile as safe and well-tolerated.

What Makes UBT251 Different

UBT251 targets three hormones rather than one. It combines GLP-1, which suppresses appetite, with GIP to reduce appetite and blood sugar, and glucagon to prevent low blood-sugar levels. That triple action is why the drug is nicknamed “triple G.”

Current market leaders Wegovy and Zepbound target only GLP-1, making UBT251 a step up in approach.

Tough Week for Novo Nordisk

The UBT251 data lands one day after a rough result for the company. CagriSema, another Novo Nordisk obesity drug candidate, achieved 23% weight loss over 84 weeks but fell short of Eli Lilly’s tirzepatide, which hit 25.5% in the same head-to-head study.

Novo Nordisk stock dropped 3.10% following the CagriSema news.

United Biotechnology, which ran the Chinese trial, plans to move UBT251 into a late-stage trial in China. Novo Nordisk has separately started a global trial in around 330 people, with results expected in 2027.

A mid-stage trial targeting Type 2 diabetes patients is also planned for later this year.

The $2 Billion Deal

Novo Nordisk acquired global rights to UBT251 in March 2025 through a deal with United Laboratories worth up to $2 billion. United Biotechnology retains rights in mainland China, Hong Kong, Macau, and Taiwan.

Novo Nordisk Chief Scientific Officer Martin Holst Lange called the data “very encouraging” and said it demonstrates UBT251’s potential.

The company also attempted to acquire U.S. startup Metsera to bolster its pipeline but lost the bidding war to Pfizer.

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