22.7% is competitive with tirzepatide but notably still below retatrutide's ~24%. Novo needed this to stay in the race. The question is whether the amylin pathway offers any differentiated benefits beyond the weight number.
One area where amylin might shine is glucose regulation in type 1 diabetes. Amylin is virtually absent in T1D patients (since beta cells are destroyed), so cagrilintide could theoretically address an unmet need there. I don't think Novo has announced T1D trials for CagriSema, but the biology supports it.
Also, the fact that CagriSema is a single injection (co-formulated) rather than two separate shots is important for adherence. Nobody wants to inject twice a week for two different drugs.