Novo Nordisk vs. Amgen: Weight Loss Drug Competition
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Mar 08 2026
0mins
Should l Buy NVO?
Source: NASDAQ.COM
- Market Leadership: Novo Nordisk leads the weight loss market with its GLP-1 drug Wegovy, and the recent launch of its oral version further solidifies its market share, with expectations to expand its portfolio of weight loss medicines in the coming years, driving company growth.
- R&D Progress: Novo Nordisk's CagriSema outperformed Wegovy in clinical studies and is under consideration for approval, while candidates like amycretin and UBT251 are also in active development, showcasing the company's strong R&D capabilities in the weight loss sector.
- Amgen's Potential: Although Amgen has yet to launch a weight loss drug, its candidate MariTide is in phase 3 studies and could gain approval within the next three years, with its monthly dosing regimen potentially providing a competitive edge.
- Investment Risk Assessment: Novo Nordisk's growth is heavily reliant on the performance of its weight loss drugs, while Amgen offers a more diversified product portfolio, suggesting that even if its weight loss market performance is uncertain, its overall business resilience may provide investors with lower risk.
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Analyst Views on NVO
Wall Street analysts forecast NVO stock price to rise
8 Analyst Rating
4 Buy
3 Hold
1 Sell
Moderate Buy
Current: 36.040
Low
42.00
Averages
54.67
High
70.00
Current: 36.040
Low
42.00
Averages
54.67
High
70.00
About NVO
Novo Nordisk A/S is a global healthcare company engaged in diabetes care. The Company is also engaged in the discovery, development, manufacturing and marketing of pharmaceutical products. The Company operates through two business segments: diabetes and obesity care, and biopharmaceuticals. The Company's diabetes and obesity care segment covers insulin, GLP-1, other protein-related products, such as glucagon, protein-related delivery systems and needles, and oral anti-diabetic drugs. The Company's biopharmaceuticals segment covers the therapy areas of hemophilia care, growth hormone therapy and hormone replacement therapy. The Company also offers Saxenda product to treat obesity. It offers a range of products, including NovoLog/NovoRapid; NovoLog Mix/NovoMix; Prandin/NovoNorm; NovoSeven; Norditropin, and Vagifem. As of December 31, 2016, it marketed its products in over 180 countries. Its regional structure consists of two commercial units: North America and International Operations.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Natural Gas Investment Opportunity: She believes that the recent fluctuation of natural gas prices around $280 to $290, now rising above $3, presents a good buying opportunity for investors, although she does not elaborate on the reasons.
- Rising Food Prices: Schneider notes that the increase in food and fertilizer prices is closely tied to energy prices, particularly as the DBA index shows a significant breakout in soft and agricultural commodities, suggesting potential inflationary pressures in the market.
- Stock Investment Opportunities: She highlights Novo Nordisk's recent FDA approval for insulin and Ulta Beauty's stock price drop from $700 to near $500, suggesting that these stocks may still represent good investment choices even in a recessionary environment.
See More
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- Drug Development Setback: Pfizer was forced to abandon its internally developed GLP-1 weight loss drug in April 2025, which significantly hampered its competitive position in the emerging drug niche, especially as competitors like Novo Nordisk and Eli Lilly reported revenue growth of 99% and 175% for their GLP-1 drugs, respectively.
- Rapid Strategic Shift: Less than a year after dropping its own drug, Pfizer quickly pivoted by acquiring a company with a promising GLP-1 candidate in November 2025, demonstrating its agility in the GLP-1 market despite looming patent expirations.
- Stable Market Position: Despite a 50% decline in value from its 2021 highs, Pfizer maintains a market capitalization of $150 billion, showcasing its resilience as an industry giant capable of navigating the typical fluctuations of the pharmaceutical sector.
- Long-Term Investment Potential: With a dividend yield of 6.2% and a payout ratio exceeding 100%, Pfizer's management has committed to maintaining its dividend, making it a potential consideration for long-term investors seeking stable returns from this industry leader.
See More
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- Market Potential: The GLP-1 weight loss market is projected to reach annual sales of $100 billion by the next decade, presenting a significant growth opportunity for Viking Therapeutics and its VK2735 candidate, especially with the potential launch of an oral version.
- Clinical Trial Progress: The injectable version of VK2735 is currently in phase 3 clinical trials, while the oral version completed phase 2 trials last year with highly promising initial results, laying a solid foundation for future commercialization.
- Acquisition Potential: Should VK2735 achieve commercial viability, Viking could become a takeover target in the biotech sector, with acquisition offers potentially reaching three times its current $4 billion market cap, reflecting strong market expectations for its future.
- Investment Risks and Opportunities: Viking's stock presents a binary risk, where the success or failure of VK2735 will directly impact its share price; despite the high risks, the potential rewards are equally substantial, necessitating careful position sizing by investors to navigate possible volatility.
See More
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- Critical Clinical Trial Phase: The injectable VK2735 is currently in phase 3 clinical trials, while the oral version's phase 2 trial completed last year with promising initial results, which will directly impact Viking's stock performance depending on the outcomes of these trials.
- Acquisition Potential: Should VK2735 achieve commercial viability, Viking's market cap of approximately $4 billion could attract acquisition offers potentially reaching three times its current valuation, highlighting its appeal as a biotech stock.
- Risks and Opportunities: While the outlook for VK2735 is optimistic, the stock carries significant volatility risks; Viking's shares once approached $100 but currently trade around $32, necessitating careful risk-reward assessment by investors.
See More
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- Market Potential: The GLP-1 weight loss market is projected to reach annual sales of $100 billion by the start of the next decade, providing Viking Therapeutics' VK2735 candidate with significant commercial opportunities, especially if an oral version is approved.
- Clinical Trial Progress: The injectable version of VK2735 is currently in phase 3 clinical trials, while the oral version completed phase 2 trials last year with promising initial results, which could significantly boost Viking's stock price.
- Acquisition Potential: Should VK2735 achieve commercial viability, Viking could become a takeover target in the biotech sector, with acquisition offers potentially reaching three times its current $4 billion market cap, reflecting high market expectations for its future.
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