Novo Nordisk's shares have dropped over 34% in 2023, mainly due to competition from Eli Lilly, which has released promising results for its oral GLP-1 drug, CagriSema. This new pill shows comparable benefits to injectable weight loss medications, making it more appealing to patients. The unsettling market conditions for Novo Nordisk have worsened due to recent supply chain issues, further driving down its stock value by nearly 50% over the past six months. Meanwhile, Eli Lilly's stock has surged by 14%, highlighting the shifting landscape in obesity treatment options.
Novo Nordisk's stock plummets by over eight percent amid Eli Lilly's promising trial results for a comparable weight-loss pill, signaling intensified competition.
Eli Lilly's recent trial success with the oral GLP-1 drug CagriSema has shifted market dynamics, reflecting the growing demand for convenient obesity treatments.
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