London ¨C Novo Nordisk investors have found little cause for optimism during a bruising two-year period of profit warnings, leadership upheaval and a sliding share price as rival Eli Lilly streaked ahead. Now, they may have reason for hope.
Despite Novo having lost ground in injectable GLP-1s in recent years, the Danish obesity drugmaker is getting a boost from its new Wegovy weight-loss pill that ?is holding onto its lead against Lilly¡¯s more recently launched Foundayo.
The pair are battling for dominance in the obesity drug market, which analysts expect ?to be ?worth more than $100 billion by the end of the decade in the United States alone. Novo¡¯s shares have climbed some ?35% from a March low, with the company looking to go on the offensive ¡ª including with a divisive court case against Lilly over what it calls misleading marketing in the vital U.S. market.
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.