In 2023, Novo Nordisk (NVO) was the most valuable company in Europe due to the soaring demand for Ozempic and Wegovy, but, since then, the company has lost its grip on the anti-obesity market, Peter Loftus and Noemie Bisserbe of The Wall Street Journal reports. The company has lost market share due to production missteps and a bungled rollout of Wegovy that led to shortages. Meanwhile, Eli Lilly (LLY) has been proven to have the more effective weight-loss drug and a more promising pipeline for future treatments.
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