Novo Nordisk A/S (NVO) dropped some fresh real-world evidence on Tuesday, and it's the kind of data that makes rival Eli Lilly and Co. (LLY) sit up and pay attention. The Danish drugmaker says that bumping up semaglutide doses reduces major adverse cardiovascular events compared to switching patients over to Lilly's tirzepatide.

Real-World Data Highlights Cardiovascular Benefits

The retrospective analysis looked at 636,525 adults with type 2 diabetes who were initially prescribed once-weekly 1 mg semaglutide injections. Patients who escalated to a 2 mg dose of semaglutide had a statistically significant 6% lower risk of major adverse cardiovascular events (MACE) than those who switched to tirzepatide up to 15 mg. MACE here includes all-cause death, heart attack, and stroke.

At 365 days after the index date, 67.2% of patients remained on semaglutide 1 mg, 29.2% escalated to 2 mg, and 3.6% switched to tirzepatide. By the 720-day follow-up, 57.4% stayed on semaglutide 1 mg, 36.9% escalated to 2 mg, and 5.7% switched to tirzepatide, showing that treatment intensification is an ongoing process. Roughly 31% of patients who switched to tirzepatide reached doses of 10 mg or higher.

Strategic Expansion Into Oral Metabolic Therapies

In a separate update, Novo Nordisk announced an exclusive licensing agreement with Hengrui Pharma for HRS-1596, a phase 1-ready dual agonist targeting GLP-1 and GIP receptors. Novo secures global rights to HRS-1596 outside of mainland China, Hong Kong, Macao, and Taiwan.

The total agreement value reaches up to $2.6 billion, subject to development, regulatory, and commercial milestones, including a $300 million upfront payment. HRS-1596 promotes weight reduction and improves glycemic control by suppressing appetite, stimulating insulin secretion, and enhancing insulin sensitivity. The drug candidate supports potential once-weekly oral administration for obesity and type 2 diabetes.

Hengrui Pharma holds approval in China for Phase 1 trials, with the transaction expected to close in the fourth quarter of 2026.

In May, Bristol-Myers Squibb Co. (BMY) partnered with Hengrui Pharma to develop a portfolio of 13 early-stage programs spanning oncology, hematology, and immunology. That deal followed Bristol-Myers' earlier success with Sotyktu, an oral drug that received FDA approval for treating adults with active psoriatic arthritis after demonstrating superior disease control compared to placebo in Phase 3 trials.

NVO Price Action: Novo Nordisk shares were down 1.34% to $38.19 at the time of publication on Tuesday, according to market data.