Eli Lilly Surpasses Novo Nordisk in Obesity Drug Market Share
Eli Lilly (NYSE: LLY) has seen its stock rise significantly this year, while Novo Nordisk (NYSE: NVO) has experienced a sharp decline. The divergence is attributed to their respective market shares in the rapidly growing obesity drug segment of GLP-1 medications. Eli Lilly holds 60% of global prescription obesity drug revenue due to strong performance from its Zepbound product, whereas Novo Nordisk's share remains smaller despite introducing a pill version of Wegovy this spring. The obesity medicine market reached $66 billion in 2025 and is projected to grow to $120 billion by 2030. Both companies control about 87% of the global prescription obesity drug revenue, but Eli Lilly's dominance has driven its stock higher compared to Novo Nordisk’s recent struggles. While Novo Nordisk revised upward its sales and profit forecasts following Wegovy's pill launch, Eli Lilly continues to outperform in market share. The GLP-1 race remains competitive as both firms aim for long-term leadership.
Topics: GLP-1 drugs obesity market growth stock price divergence