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Novo Nordisk CEO Mike Doustdar conceded that Eli Lilly has been gaining market share in the GLP-1 market and is more diversified than his company, even as Novo raised its full-year sales guidance. The admission came as shares dropped roughly 6% on the day of the announcement.
A guidance raise that didn't move the needle
Novo narrowed its projected annual decline from 8% to 3% at the midpoint on August 4. That's a meaningful improvement, but investors weren't impressed. The stock fell anyway, a sign that the market is focused on the competitive pressure from Lilly rather than the better-than-expected outlook.
The price cut trade-off
Novo slashed prices on Ozempic and Wegovy last year to widen patient access. The move was meant to boost volume, but that volume hasn't caught up yet to offset the cuts. That's why the guidance raise is modest, and why the company is still projecting a decline in sales for the year.
Oral Wegovy's fast start
The pill version of Wegovy launched in January and quickly became one of the fastest-selling drugs in pharmaceutical history. Doctors
Novo Nordisk CEO Mike Doustdar conceded that Eli Lilly has been gaining market share in the GLP-1 market and is more diversified than his company, even as Novo raised its full-year sales guidance. The admission came as shares dropped roughly 6% on the day of the announcement.
A guidance raise that didn't move the needle
Novo narrowed its projected annual decline from 8% to 3% at the midpoint on August 4. That's a meaningful improvement, but investors weren't impressed. The stock fell anyway, a sign that the market is focused on the competitive pressure from Lilly rather than the better-than-expected outlook.
The price cut trade-off
Novo slashed prices on Ozempic and Wegovy last year to widen patient access. The move was meant to boost volume, but that volume hasn't caught up yet to offset the cuts. That's why the guidance raise is modest, and why the company is still projecting a decline in sales for the year.
Oral Wegovy's fast start
The pill version of Wegovy launched in January and quickly became one of the fastest-selling drugs in pharmaceutical history. Doctors
