Novo Nordisk CEO Mike Doustdar said investors are underestimating the demand for differentiation among obesity drugs, and that new treatment options like pills will keep it from becoming a winner-take-all battle with rival Eli Lilly.
Novo Nordisk CEO Mike Doustdar defended the drugmaker's decision to sue rival Eli Lilly over its weight-loss drug advertising. "I am a big fan of competition.
Novo Nordisk CEO argues weight loss drugs could slash health care costs and boost productivity as GLP-1 adoption remains in its early innings.
Both Eli Lilly and Novo Nordisk beat second-quarter estimates and raised their full-year outlooks. But while investors cheered Lilly's results, they punished Novo a day earlier – underscoring a growing divide in Wall Street's confidence in the two obesity drug giants.
Surprisingly, many foreign markets are way ahead of the U.S. in year-to-date performance.
The Danish company developed the most lucrative new drug the world had ever seen. Then America's Eli Lilly outmaneuvered it and took control of the diet-drug market.