Eli Lilly and Novo Nordisk Compete for India's Obesity Drug Market
Written by Emily J. Thompson, Senior Investment Analyst
Source: Newsfilter
- Intensifying Market Competition: Eli Lilly and Novo Nordisk are fiercely competing in India's obesity drug market, projected to exceed $1 billion by 2026, indicating significant growth potential.
- Sales Surge: Lilly's Mounjaro has seen sales double since its March launch, becoming the top-selling obesity treatment, reflecting the strategic advantage of early market entry.
- Price Strategy Adjustments: Novo Nordisk cut the price of Wegovy by 37% in November to respond to market competition, demonstrating its adaptability in a price-sensitive market.
- Collaborative Market Expansion: Lilly's partnership with India's third-largest drugmaker, Cipla, to launch the new brand Yurpeak aims to penetrate smaller towns, highlighting the company's commitment and long-term investment in the Indian obesity drug market.
LLY
$1071.64+Infinity%1D
Analyst Views on LLY
Wall Street analysts forecast LLY stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for LLY is 1078 USD with a low forecast of 800.00 USD and a high forecast of 1300 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
20 Analyst Rating
18 Buy
2 Hold
0 Sell
Strong Buy
Current: 1076.480
Low
800.00
Averages
1078
High
1300
Current: 1076.480
Low
800.00
Averages
1078
High
1300
About LLY
Eli Lilly and Company is a medicine company, which discovers, develops, manufactures, markets, and sells pharmaceutical products worldwide. Its cardiometabolic health products include Basaglar; Humalog, Humalog Mix 75/25, Humalog U-100, Humalog U-200, Humalog Mix 50/50, insulin lispro, and others; Humulin, Humulin 70/30, and others; Jardiance; Mounjaro; Trulicity; Zepbound; VERVE-102; VERVE-201, and VERVE-301. Its oncology products include Cyramza, Erbitux, Tyvyt, and Verzenio. Its immunology products include Ebglyss, Olumiant, Omvoh, and Taltz. Its neuroscience products include Emgality and Kisunla. The Company is also engaged in radiopharmaceutical discovery, development, and manufacturing efforts, and clinical and pre-clinical radioligand therapies in development for the treatment of cancer. It is also developing an oral small molecule inhibitor of a4b7 integrin for inflammatory bowel disease (IBD). It is evaluating its novel gene therapy candidate, ixoberogene soroparvovec.
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.
