In the global market weight class: Novo Nordisk’s dominance in the competition for anti-obesity drugs has been shaken

By: Trademagazin Date: 2025. 05. 07. 10:49

The weight-loss drug market, which has been booming in the wake of the global obesity epidemic, has taken another turn: Novo Nordisk, which burst into the public consciousness with the Wegovy injection, was forced to scale back its growth expectations. The Danish company must not only compete with Eli Lilly, which dominates the US pharmaceutical market, but also with the protectionist trade policy of the US administration – writes VG.hu.

The quarter started with a profit warning

In its quick report on Wednesday, Novo Nordisk revised its previously expected 24% sales growth to 21% and its 27% operating profit growth to 24%. The news caused the share price to fall by 5% on the Copenhagen Stock Exchange. The company cited US tariff measures and Eli Lilly’s growing presence as reasons.

Prescribing Overtake

The US remains a key market: it will decide who will lead the future of the obesity drug market, which could swell to $100 billion. According to Bloomberg, more than 1.2 million doses of Eli Lilly’s Zepbound were prescribed in the first three months of the year, while Wegovy prescriptions remained below 1 million. The turnaround shows that American doctors’ preferences have shifted – even if Novo Nordisk blames pricing and regulatory differences.

Political headwinds and CVS deal

The Danish company is particularly unfavourable to the US tariff war atmosphere, which has only intensified with the re-election of the Trump administration. Robert Kennedy Jr. is expected to strongly represent the interests of American manufacturers as Secretary of Health and Human Services. Nevertheless, Novo Nordisk scored an important victory: CVS Health announced that it would make Wegovy more widely available, while Zepbound was removed from its preferred drugs. The news brought a 13% price increase for Novo shares – although the price has weakened by a total of 29% since Trump’s return.

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