Roche / Zealand Pharma A/S: LLY's Elora (Amylin) + Tirz (GLP-1/GIP) P1b at EASD: strong efficacy, awaiting tolerability/discont clarity; setting a high bar for Petre combo

研报英文原文证据摘录

Roche / Zealand Pharma A/S: LLY's Elora (Amylin) + Tirz (GLP-1/GIP) P1b at EASD: strong efficacy, awaiting tolerability/discont clarity; setting a high bar for Petre combo

Barclays | Roche / Zealand Pharma A/S

Development timeline / catalysts for Amylin class:

• LLY eloralintide + tirzepatide Phase 2 data in H2'26: The dedicated Phase 2 combo study is

in adults with obesity/overweight and T2D, has completed enrollment, targets ~350

participants, with primary completion in Aug ‘26 (NCT06603571).

• LLY eloralintide monotherapy: Eloralintide is already in Phase 3, with 5 P3s initiated -

ENLIGHTEN-1 in obesity/overweight without T2D, -2 in obesity/overweight with T2D, -3 for

obstructive sleep apnea (OSA), -4 for osteoarthritis (OA) knee pain, and -6 for +incretin

combo.

• ZEAL/ROP petrelintide monotherapy: Petrelintide is moving into Phase 3 for chronic weight

management, with planned P3a initiation in 2H26. Additionally, ZUPREME-2, in obesity/

overweight with T2D, is expected to read out in 2H'26.

• ZEAL/ROP petrelintide + enicepatide (CT-388) combo P2 initiated: The P2 petre + enic

combo obesity trial has been initiated per clinicaltrial.gov (NCT07589686), with data likely by

YE27. The ZYNERGY Phase 2 combination study will test multiple enicepatide + petrelintide

dose regimens alongside monotherapy arms, with the goal of selecting the optimal efficacy/

tolerability regimen for Phase 3.

• GPCR oral amylin: ACCG-2671 is the most relevant emerging oral/small-molecule amylin

competitor. Structure says the asset is in Phase 1, with initial SAD data anticipated in Q3'26,

with and MAD initiation; the company is also advancing ACCG-3535, a second oral small-

molecule DACRA, with Phase 1 initiation expected in Q4 2026. This creates a new competitive