In the highly competitive market of anti-obesity drugs, Eli Lilly has emerged as the clear leader, with its drug Mounjaro outperforming Novo Nordisk’s Wegovy in global sales.
After just six months, Mounjaro generated €2.831 billion in revenue, nearly double the €1.560 billion earned by Wegovy during the same period.
This lead comes despite the fact that neither drug has fully penetrated all markets worldwide.
Novo Nordisk also has another product, Ozempic, primarily prescribed for diabetes but widely used for weight loss, which reported a massive €7.596 billion in sales during the first half of the year.
According to El Economista, it is unclear how much of this figure is attributable to its use for obesity versus diabetes.
Both pharmaceutical giants have invested heavily to enhance their production capabilities in anticipation of a surge in demand.
Novo Nordisk spent €11 billion to acquire Catalent, a major third-party manufacturing firm, while Lilly expanded its own factories to increase capacity.
The obesity drug market is projected to become the most lucrative sector in the pharmaceutical industry, with expectations of exceeding €100 billion in annual revenue by the end of this decade.
Analysts predict that Novo Nordisk will control around 55% of this market, translating to nearly €58 billion in annual sales within five years.
Despite Wegovy's current dominance in the slimming product market, it is predicted that Mounjaro will take the lead by the end of the decade.
According to Global Data, Lilly’s drug is expected to generate annual sales of €33 billion by 2029, surpassing Lilly’s entire revenue of €31.801 billion in 2023.
