Novo Nordisk loses GLP-1 drug lead to Eli Lilly
Danish pharmaceutical giant Novo Nordisk saw its dominance in GLP-1 weight-loss drugs challenged by U.S. rival Eli Lilly after pioneering breakthrough treatments.
The short version
Novo Nordisk, once Europe’s most valuable company, has lost its lead in the GLP-1 weight-loss drug market to U.S. rival Eli Lilly. The shift follows Novo Nordisk’s struggle to sustain momentum after pioneering obesity treatments.
Novo Nordisk briefly surpassed LVMH to become Europe’s most valuable company by market capitalization in 2023.3 The company’s share price rose due to strong sales of its weight-loss drugs Ozempic and Wegovy.3 Novo Nordisk pioneered GLP-1 treatments for obesity, which drove its market value.3
After its initial success, Novo Nordisk has struggled to develop follow-up blockbuster drugs.3 U.S. rival Eli Lilly outmaneuvered Novo Nordisk in the weight-loss drug market.2 Eli Lilly took control of the diet-drug market from Novo Nordisk.2
Employers, including Bank of America, face rising costs due to demand for GLP-1 drugs like Ozempic and Wegovy.1 GLP-1 drugs can cost thousands of dollars per patient annually.1
Why it matters
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