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Novo Nordisk slumps following trial results for Eli Lilly’s weight-loss pill

Novo Nordisk, the Danish maker of Ozempic and Wegovy, fell almost 10% early on Tuesday — its first trading session since rival Eli Lilly unveiled strong trial results for its experimental weight-loss pill last week.

As the GLP-1 drug race moves toward easier-to-take oral treatments, Lilly’s new pill, taken once daily with no food or water restrictions, appears more convenient than Novos own oral GLP-1, while also delivering weight loss and blood sugar results that rival Novos wildly popular injectable, Ozempic.

Though Novo Nordisk got a brief boost last week after Pfizer scrapped a new obesity pill effort, Lillys latest entry is adding to the mounting pressure on the drugmaker. Just last month, a trial of Novos new weight-loss injectable disappointed investors — helping erase a third of its market value this year and leading it to cede its crown as Europe’s most valuable company.

As the GLP-1 drug race moves toward easier-to-take oral treatments, Lilly’s new pill, taken once daily with no food or water restrictions, appears more convenient than Novos own oral GLP-1, while also delivering weight loss and blood sugar results that rival Novos wildly popular injectable, Ozempic.

Though Novo Nordisk got a brief boost last week after Pfizer scrapped a new obesity pill effort, Lillys latest entry is adding to the mounting pressure on the drugmaker. Just last month, a trial of Novos new weight-loss injectable disappointed investors — helping erase a third of its market value this year and leading it to cede its crown as Europe’s most valuable company.

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