Novo Nordisk cuts price of weight-loss drug as rival Eli Lilly steps up 

The two companies are going head-to-head in a market that analysts estimate could be worth as much as €93.4bn by the end of the decade
Novo Nordisk cuts price of weight-loss drug as rival Eli Lilly steps up 

Novo Nordisk, the Danish maker of Wegovy, is worth €540.4bn.

Novo Nordisk raised its 2024 outlook as the Danish drug maker races to boost output of its Wegovy weight-loss treatment, while competition from rival Eli Lilly forced the company to cut prices of the drug, knocking its shares.

This is Novo Nordisk's second set of results since Lilly launched obesity drug Zepbound in the US in December and highlights the fast-changing dynamics as the two companies go head-to-head in a market which analysts estimate could be worth as much as $100bn (€93.4bn) by the end of the decade.

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