Novo Nordisk Shares Fall Amid Rival Drug Outperforming Wegovy

Shares of Novo Nordisk dropped 1.1% after a study showed Eli Lilly’s Mounjaro leads to greater weight loss compared to Novo Nordisk's Wegovy. The JAMA Internal Medicine study analyzed weight loss trajectories in patients using either drug, revealing superior results for Mounjaro. Weight-loss drugs are expected to be a $150 billion market by the early 2030s.

Shares in Novo Nordisk, the maker of the popular obesity drug Wegovy, fell by 1.1% on Tuesday following a data analysis publication showing that Eli Lilly's Mounjaro leads to quicker and more significant weight loss. The analysis was published on Monday in JAMA Internal Medicine, a respected medical journal.

The study examined health records and other data from 9,193 patients taking Mounjaro and an equal number of matched patients taking Wegovy's ingredient, Ozempic. Findings indicated that patients on Mounjaro were significantly more likely to lose at least 5%, 10%, and 15% of their body weight compared to those on Ozempic.

The two pharmaceutical giants, traditionally leading producers of insulin, are now first-to-market with effective weight-loss drugs in a burgeoning sector that analysts predict could generate $150 billion annually by the early 2030s. The results were previously published on medRxiv in November prior to peer review.

(With inputs from agencies.)