Eli Lilly and Novo Nordisk Expand Obesity Drug Market Beyond the US
Eli Lilly and Novo Nordisk looking beyond US for obesity drug growth
Business Standard
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Eli Lilly and Novo Nordisk are shifting focus from the US market to international growth for their obesity drugs, aiming to make treatments more accessible and affordable. Global sales of obesity drugs are expected to exceed $120 billion by 2030, with Lilly's new oral medication Foundayo leading the charge.
- 01Novo Nordisk and Eli Lilly are exploring international markets to enhance accessibility to their obesity drugs.
- 02Lilly's new oral medication, Foundayo, is seeking approval in 40 countries, aiming for a significant global presence.
- 03Novo's oral Wegovy has recently launched in the UAE and is awaiting approval in Europe, focusing on meeting demand before entering new markets.
- 04The introduction of generic versions of semaglutide will make treatments more affordable in countries like India, Canada, and Brazil.
- 05Currently, only 1-2% of those who could benefit from GLP-1 medications globally are using them.
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In a bid to expand their market share, Eli Lilly and Novo Nordisk are shifting their focus from the US to international markets for their obesity medications. Patients at clinics like Juan Manuel Esparza Luna’s in Chihuahua, Mexico, often resort to older, less effective treatments due to high costs. However, the landscape is changing as both companies aim to make their newer GLP-1 drugs more accessible globally. According to Bloomberg Intelligence, global obesity drug sales are projected to surpass $120 billion by 2030. Lilly is leading the way with its new oral medication, Foundayo, which is under review in 40 countries. Meanwhile, Novo has launched its oral Wegovy in the UAE and is preparing for a European rollout. Both companies are also anticipating that the arrival of generic semaglutide will further reduce costs, particularly in emerging markets where obesity rates are rising. Despite the current limited uptake of GLP-1 medications globally, both companies are committed to addressing the needs of patients in various cultural contexts.
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The expansion of obesity drug accessibility will significantly impact patients in countries with rising obesity rates, providing them with more effective treatment options.
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