Zealand Pharma (ZEAL) Jefferies Global Healthcare Conference 2026 summary

Strategic research and development focus

• Advancing the Metabolic Frontier 2030 strategy with three pillars: non-aversive weight loss, metabolic flexibility, and brain-targeted metabolic control.

• Expanding beyond peptides to include small molecules, antibodies, and antibody-peptide conjugates, with new capabilities in Cambridge and partnerships in China.

• Ongoing business development to broaden the research platform through collaborations and partnerships.

Key clinical assets and upcoming data

• Petrelintide and survodutide highlighted as practice-changing medicines, with major data readouts at ADA.

• Petrelintide phase II showed strong tolerability and adherence; phase III aims to confirm efficacy and safety, with longer duration and improved gender balance.

• Survodutide positioned as a first-in-class GLP-1/glucagon therapy, with significant liver and obesity data expected from SYNCHRONIZE-1 and SYNCHRONIZE-MASLD studies.

Commercial and financial outlook

• High confidence in royalty streams from upcoming product launches, with potential filings and launches as early as next year.

• 50/50 co-development and profit-sharing deal with Roche for petrelintide and its combinations, with flexibility to opt into commercial activities.

• $800 million investment in R&D over five years, $200 million shareholder return, and significant milestone payments secured.