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Recent developments signal a clear transition: Loss of exclusivity for semaglutide in some markets Approval of generic versions of Ozempic, significantly cheaper than branded drugs Pricing pressure increasing globally Novo Nordisks growth outlook facing moderation due to competition This marks the shift from: Market creation Market competition Phase 4: The New GLP-1 Gold Rush With Novo Nordisk establishing demand, other pharma giants are now aggressively expanding into GLP-1: 1

GLP-1 RAs have evolved since the approval of exenatide in 2005

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With additional clinical trials under way, and the development of a fixed-dose combination product of GLP-1 RA and basal insulin, the use of GLP-1 RA as an alternative to prandial insulin seems likely to increase with time