health
February 25, 2026
These 4 charts show the scale of Novo Nordisk's woes
Despite being first to launch a GLP-1 drug for weight loss, Novo's market share has eroded, and the company now only captures about 40% of the market.
TL;DR
- Novo Nordisk's stock is down 75% from its peak due to pricing pressure, competition, and pipeline issues.
- The company has lost market share in GLP-1 weight loss drugs to Eli Lilly, now holding about 40% compared to Lilly's 60%.
- Novo Nordisk is heavily exposed to the U.S. market, where drug prices are rapidly declining.
- A recent trial comparing its next-generation drug CagriSema to Eli Lilly's Zepbound yielded disappointing results.
- The company forecasts sales and profits to drop in 2026, the first decline since 2017.
- Competition from Eli Lilly and compounding pharmacies selling cheaper copycat versions is impacting sales.
- Other large pharmaceutical companies are preparing to enter the weight loss drug market with more differentiated products.
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