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.
Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on NVO:
- Why Hims & Hers Health Stock (HIMS) Is Too Hot to Handle
- Eli Lilly price target raised to $936 from $928 at Guggenheim
- Morning News Wrap-Up: Thursday’s Biggest Stock Market Stories
- Evernorth weight loss drug price point attractive compared to Hims, says Truist
- Citi says Evernorth plan ‘slight headwind’ to Hims & Hers