Analysis: Cork operations of Eli Lilly underpin Ozempic maker Novo Nordisk's dwindling market dominance

With Cork a crucial part of its global supply chain, Eli Lilly's weight loss drugs are shaking up an industry once ruled by Ozempic and Wegovy maker, Novo Nordisk

US multinational Eli Lilly has gathered significant momentum with its game-changer drugs Zepbound and Mounjaro. Picture: Paulo Nunes dos Santos/Bloomberg

For years, Danish drugmaker Novo Nordisk operated unrivalled in the global diabetes and obesity drug market, with its blockbuster medicines underpinning Denmark’s economy and cementing itself as one of Europe’s most valuable companies.

Promoted heavily by celebrities, many of whom have spoken candidly about their weight-loss journeys, Novo’s breakthrough medications, Ozempic and Wegovy, became a household name in just a matter of weeks, prompting global demand for their fast-acting products, which even led to significant supply shortages that the company could not meet fast enough.