This Trend is Excellent News for Eli Lilly and Its Investors
Eli Lilly and Novo Nordisk are vying for a new part of the weight loss drug market.
Overview
Eli Lilly (NYSE:LLY) is the global leader in one of the hottest growth markets on the planet: the weight loss drug market. The pharma giant holds 60% of the U.S. market, while its closest rival, Novo Nordisk (NYSE:NVO), has about 38% share. Until this year, this market included only injectable drugs from these companies, and the names are quite recognizable. Lilly is the maker of Mounjaro and Zepbound, while Novo makes Ozempic and Wegovy.
This year, however, both of these companies have launched a new type of weight loss drug: weight loss pills. Novo was the first to launch the Wegovy pill, and a few months later, Lilly joined the market with Foundayo. Though Novo's product remains ahead in the number of prescriptions written, the following trend is excellent news for Lilly and its investors. Let's check out this new growth story.
Image source: Getty Images.
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Originally published at www.fool.com.
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