The competition in the GLP-1 weight-loss drug market is intensifying between pharmaceutical giants Eli Lilly & Company (LLY) and Novo Nordisk A/S (NVO). Eli Lilly recently received FDA approval for a single-dose KwikPen for its obesity drug Zepbound, which provides full-month treatment and enhances patient convenience. This development contributed to a 3% increase in Eli Lilly’s shares, while Novo Nordisk experienced a sharp 16% decline following disappointing trial results for its weight loss treatment, Wegovy, which showed only a 20.2% weight loss compared to Eli Lilly’s 23.6% from tirzepatide.
The GLP-1 drug market is expected to exceed $100 billion annually within the next decade, with Eli Lilly projected to surpass Novo Nordisk in obesity drug sales as production ramps up. In 2024, Novo Nordisk is anticipated to generate around $30 billion from its GLP-1 drugs, while Eli Lilly expects over $15 billion, driven by strong clinical outcomes and sales momentum.
