LLY · News · 20260911N

Competition and Market Share - Weight-Loss

ELI LILLY & Co · 2026-09-11 · Importance 10 · Surprise 6

Morgan Stanley downgraded Novo Nordisk from Equal-weight to Underweight because of a subdued mid-term growth outlook and concerns about the semaglutide patent cliff. The report identified significant competitive headwinds from Eli Lilly in obesity medicines. Analysts nevertheless forecast Novo Nordisk’s oral-obesity franchise could generate $10 billion in sales by 2031, indicating a sizable future competitor market against Lilly’s weight-loss portfolio.

Key facts

• Analysts are expecting significant competitive headwinds from Eli Lilly against Novo Nordisk, despite projected oral obesity franchise sales of $10 billion by 2031. source