Novo Nordisk anticipated to take care of lead in diabetes market over Eli Lilly, report finds

Though Eli Lilly (NYSE:LLY) expanded its diabetes portfolio in Could with the approval of Mounjaro (tirzepatide), rival Novo Nordisk (NVO) is seen as sustaining its lead within the sort 2 diabetes (T2D) remedy market, in response to GlobalData.

In a brand new report, GlobalData mentioned that Novo’s (NVO) glucagon-like peptide-1 (GLP-1) franchise — together with Rybelsus (oral semaglutide), Victoza/Saxenda (liraglutide), and Ozempic/Wegovy (semaglutide) — has had a robust yr as gross sales are up 44% (assuming fixed trade charges) throughout the primary three quarters of 2022.

Total GLP-1 gross sales for Novo (NVO) within the first 9 months have been ~DKK 59B (~$8.2B), led by Ozempic with ~DKK 42.8B (~$6B).

Lilly’s (LLY) diabetes portfolio is dominated by Trulicity (duraglutide), a once-weekly injection, that introduced in $1.85B in gross sales in Q3 2022, a 16% enhance from the year-ago interval. Its subsequent best-selling diabetes med, Jardiance (empagliflozin), had Q3 gross sales of ~$543M, a 47% year-over-year enhance.

Mounjaro, the first-ever diabetes medicine that prompts GLP-1 and glucose-dependent insulinotropic polypeptide (GIP) receptors, noticed Q3 gross sales of $187M.

Mounjaro is more likely to turn into a blockbuster for Lilly (LLY) not essentially as a diabetes drug, however as a weight reduction therapy, despite the fact that it isn’t but accredited in that indication. In a head-to-head trial towards Wegovy — which is accredited for weight reduction — Mounjaro bested it by way of A1C and weight reductions.

“Though Lilly (LLY) has launched Mounjaro previously yr and has a triple agonist, retatrutide, a GLP-1RA/GIP/glucagon receptor (GR) getting into Part III of growth, Novo Nordisk (NVO) stays more likely to keep a big share of the GLP-1 market,” famous GlobalData pharma analyst Akash Patel. “Nevertheless, Lilly (LLY) will steal a big market share from semaglutide and probably turn into the dominant GLP-1RA supplier.”

Patel added that for the reason that incidence of T2D is growing around the globe, there may be room for each firms to extend market share.

Globally, the diabetes therapeutics market is predicted to rise from ~$58.5B in 2021 to $91.7B by 2028, in response to The Perception Companions. That is a CAGR of 6.8%.

Regardless of Novo’s (NVO) spectacular progress, Looking for Alpha contributor Daniel Schonberger sees the corporate’s shares as expensive and charges the inventory a maintain.