Accepted answer
The SURMOUNT-4 placebo arm is the only thing that makes its treatment arm interpretable, and it is the row nobody quotes. Symptoms reported under placebo in these programmes are not rare, because the population is being asked about them weekly and would have had some of them regardless. The attributable figure is the treated rate minus the placebo rate, and that difference is routinely a fraction of the headline. Two cautions on the subtraction: the arms must have been assessed the same way, and a discontinuation for an event removes that participant from later time points in both arms, which flatters whichever arm loses more people.
The honest answer here is that the published evidence supports part of the claim and is silent on the rest, and it is worth being precise about which part is which.
Placebo arms in this class are not nothing. Lifestyle-intervention placebo arms in the major obesity trials commonly lose two to three per cent of body weight, so an active-arm figure quoted without its comparator overstates the drug effect by roughly that much.
Mechanically, a composite endpoint is only as informative as its least serious component. Where a cardiovascular composite combines death, infarction and stroke, ask which component moved, because they are not interchangeable outcomes.
Registry entries at ClinicalTrials.gov carry the pre-specified primary endpoint with a timestamp, which is the cheapest available check on whether an endpoint was changed after the data were seen.
When two sources disagree, the answer is almost always in the methods section of the one you have not read.