Zealand Pharma is the Danish biotech behind survodutide (the GLP-1/glucagon dual agonist partnered with Boehringer Ingelheim) and petrelintide (the amylin analog licensed to Roche). The company sits in the second tier of the obesity peptide race behind Lilly and Novo, but with arguably the most differentiated combination programs.
The SYNCHRONIZE Phase 3 program for survodutide is the most consequential readout for the company. Petrelintide drives much of the upside on the Roche side, with executives projecting $9 billion in peak annual sales across petrelintide, the breast-cancer pill, and four other obesity candidates as part of Roche's Q1 2026 strategy reset.
Stories here cover trial readouts, partnership news, and the share-price moves that follow. See #survodutide and #petrelintide for the lead assets.
Roche presented ZUPREME-1 Phase 2 data for petrelintide, the once-weekly long-acting amylin analog licensed from Zealand Pharma, at the Monday June 8 investor event. The pitch hinges on tolerability: published topline showed up to 10.7% weight loss at 42 weeks versus 1.7% placebo, with discontinuation 4.8% vs 4.9% placebo and no vomiting at the maximally effective dose. Medical Daily framed the readout as a non-incretin option for the estimated 30-40% of patients who quit GLP-1s for GI side effects. Petrelintide advances to Phase 3 alongside enicepatide.
Boehringer Ingelheim and Zealand Pharma presented the full Phase 3 SYNCHRONIZE-1 readout for survodutide, the glucagon/GLP-1 dual agonist, at ADA 2026. In adults with obesity or overweight without type 2 diabetes, survodutide produced up to 16.6% mean weight loss at 76 weeks versus 3.2% placebo (p<0.0001), with up to 85.1% achieving at least 5% loss. Analyst attention now turns to body composition and liver-fat substudies, with reductions driven largely by fat-tissue loss rather than lean mass.
Roche will present detailed Phase 2 ZUPREME-1 data for the amylin analog petrelintide as an ADA 2026 late-breaker, with a June 8 investor event. In 493 adults with overweight or obesity (mean BMI 37), once-weekly petrelintide produced up to 10.7% mean weight loss at week 42 versus 1.7% on placebo, with treatment discontinuation of 4.8% versus 4.9% on placebo and no vomiting or GI-related discontinuations at the maximally effective dose. That tolerability is the amylin class's central pitch against the incretins.
Full Phase 3 SYNCHRONIZE-1 results for the glucagon/GLP-1 dual agonist survodutide are set for ADA 2026, detailing the obesity readout first toplined in April. In adults with obesity or overweight without type 2 diabetes, survodutide produced up to 16.6% mean weight loss at 76 weeks versus 3.2% on placebo, with up to 85.1% of treated patients losing at least 5% of body weight. The full dataset puts survodutide's glucagon component, which adds energy expenditure and liver-fat effects, in front of the field that gathers in New Orleans.
Boehringer Ingelheim's survodutide full 48-week Phase 2 MASH dataset published in the New England Journal of Medicine alongside the EASL 2026 presentation. MASH improvement without worsening of fibrosis occurred in 47% of the 2.4 mg group, 62% of the 4.8 mg group, and 43% of the 6.0 mg group, versus 14% on placebo. Up to 52% of survodutide-treated adults achieved significant improvement across fibrosis stages F1, F2, and F3 versus around 26% on placebo. Survodutide is an investigational long-acting glucagon/GLP-1 receptor dual agonist (BI 456906, partnered with Zealand Pharma) for once-weekly subcutaneous administration. The Phase 3 program is advancing through LIVERAGE (~1,800 adults with MASH F2-F3) and LIVERAGE-Cirrhosis (~1,590 adults with compensated MASH cirrhosis F4). Survodutide also posted 16.6% weight loss in the SYNCHRONIZE-1 obesity Phase 3 (April 2026). The NEJM publication is the strongest peer-reviewed validation of the GLP-1/glucagon dual mechanism in MASH to date.
Zealand Pharma A/S held its Extraordinary General Meeting at Plesner Advokatpartnerselskab in Copenhagen on May 26, 2026. All proposals presented were approved, with Camilla Sylvest elected to the Board of Directors as recommended by the Nomination Committee. No other shareholder-elected board composition changes were proposed. Zealand's 2026 pipeline anchors on three programs: petrelintide (ZP8396, amylin analog under a $5.3B March 2026 Roche partnership), survodutide (BI 456906, dual GLP-1/glucagon agonist partnered with Boehringer Ingelheim, SYNCHRONIZE-1 obesity Phase 3 readout April 2026 documenting 16.6% weight loss), and the next-generation amylin and glucagon programs. The corporate-governance update is routine; the strategic story remains the SYNCHRONIZE-MASH Phase 3 readout expected late 2026, which positions survodutide as a leading candidate for the dual GLP-1/glucagon agonist class in MASH alongside pemvidutide.
Zealand Pharma reported Q1 2026 revenue of DKK 34M against DKK 8M a year earlier and the DKK 17M analyst consensus — a more-than-2× beat on the recognition of Roche's $700M (DKK 4.5B) milestone payment tied to petrelintide's advancement into Phase 3. The board authorized a share buyback of up to DKK 1.3B. Net operating expenses came in at DKK 573M (below the DKK 679M consensus), and the company reaffirmed petrelintide Phase 3 obesity initiation in H2 2026. Petrelintide is the long-acting amylin analog that posted ~10.7% mean weight loss with placebo-like tolerability in ZUPREME-1; the Roche partnership combines it with the GLP-1/GIP enicepatide (CT-388) in a fixed-dose Phase 2 starting mid-2026. Shares rose 8.4% to DKK 344.
Following the April 28 SYNCHRONIZE-1 obesity topline (16.6% weight loss at 76 weeks), Boehringer Ingelheim and Zealand Pharma confirmed that survodutide — their dual GLP-1/glucagon agonist — has two global Phase 3 MASH trials underway: LIVERAGE in adults with MASH and fibrosis stages F2 or F3, and LIVERAGE-Cirrhosis in compensated MASH cirrhosis. The Phase 3 program follows Phase 2 data showing 83% of MASH patients achieved histological improvement at 48 weeks. The MASH track positions survodutide alongside tirzepatide's SYNERGY-NASH and broader Lilly Phase 3 activity in the metabolic-liver-disease space, with full SYNCHRONIZE-1 data slated for ADA 2026 in June.
Zealand Pharma announced April 29 that it and partner Roche have formally endorsed advancing petrelintide — a long-acting amylin analog suitable for once-weekly subcutaneous administration — into Phase 3 trials for chronic weight management, with initiation planned for H2 2026. The Phase 3 program will evaluate petrelintide as monotherapy and in combination with Roche's GLP-1/GIP receptor dual agonist enicepatide (CT-388). The decision follows positive Phase 2 ZUPREME-1 data showing up to 10.7% weight loss with placebo-like tolerability; petrelintide is now positioned as the lead non-GLP-1 obesity asset behind only Novo's CagriSema.
Boehringer Ingelheim and Zealand Pharma announced positive topline results from the Phase 3 SYNCHRONIZE-1 trial of survodutide (BI 456906), a glucagon/GLP-1 dual agonist, in adults with obesity or overweight without type 2 diabetes. Adults treated with survodutide achieved 16.6% mean weight loss at 76 weeks (efficacy estimand) versus 3.2% placebo (p<0.0001), with up to 85.1% of treated adults achieving ≥5% weight reduction. Up to 39.2 lb (17.8 kg) average weight loss; initial analysis indicates predominantly fat-tissue loss with lean mass contributing only a small proportion. Full data will be presented at ADA 2026 in June.
Zealand Pharma announced a new Cambridge research hub combining 25+ years of peptide expertise with AI-driven drug discovery, expanding its obesity and metabolic health pipeline.