Novo Nordisk likely to maintain lead against competitor Eli Lilly in global type 2 diabetes market: GlobalData | The Financial Express

Novo Nordisk likely to maintain lead against competitor Eli Lilly in global type 2 diabetes market: GlobalData

Additionally, the launch of Rybelsus (oral semaglutide), which delivered similar efficacy to Ozempic for T2D, has significantly driven the sales of Novo’s GLP-1 franchise with its ease of administration and improved compliance, the company claims.

Novo Nordisk likely to maintain lead against competitor Eli Lilly in global type 2 diabetes market: GlobalData
This comes at a time when despite being plagued with supply issues over the past one year, the Denmark-based pharmaceutical company’s glucagon-like peptide-1 (GLP-1) franchise—including Rybelsus, Saxenda, Ozempic, and Wegovy—enjoyed a strong performance. (File)

GlobalData, a data, and analytics company, on Friday, said that Novo Nordisk is poised to maintain a strong market position against competitor Eli Lilly in the type 2 diabetes (T2D) market.

This comes at a time when despite being plagued with supply issues over the past one year, the Denmark-based pharmaceutical company’s glucagon-like peptide-1 (GLP-1) franchise—including Rybelsus, Saxenda, Ozempic, and Wegovy—enjoyed a strong performance.

Reportedly, Ozempic has been plagued by a shortage fueled by demand and Wegovy has had contract-manufacturing-related supply chain issues, but that has not prevented Novo’s GLP-1 franchise from achieving overall sales growth of 44 percent for the first nine months of the year.

“Lilly’s recently launched dual GLP-1RA/glucose-dependent insulinotropic polypeptide (GIP) agonist Mounjaro (tirzepatide) is likely to have significant head-to-head competition with Novo’s Ozempic and GlobalData predicts that as the market size of T2D continues to increase globally, there will space for both companies to increase their market share and maintain significant competition,” Akash Patel, Pharma Analyst at GlobalData, said in a statement.

Additionally, the launch of Rybelsus (oral semaglutide), which delivered similar efficacy to Ozempic for T2D, has significantly driven the sales of Novo’s GLP-1 franchise with its ease of administration and improved compliance.

“Although Lilly has launched Mounjaro in the past year and has a triple agonist, retatrutide, a GLP-1RA/GIP/glucagon receptor (GR) entering Phase III of development, Novo Nordisk remains likely to maintain a significant share of the GLP-1 market. However, Lilly will steal a large market share from semaglutide and potentially become the dominant GLP-1RA provider,” Patel stated.

ALSO READ | New pharma entrants can alter aHUS digital landscape in Japan: GlobalData

Get live Share Market updates and latest India News and business news on Financial Express. Download Financial Express App for latest business news.

First published on: 11-11-2022 at 11:29:34 am
Photos
11 Photos
iQOO 11 5G: Top 11 things to know about India’s first phone with Snapdragon 8 Gen 2
6 Photos
Zero visibility! Dense fog engulfs Delhi NCR giving hill station vibes: SEE PHOTOS
5 Photos
Jawans perform Republic Day rehearsals in high spirit at Kartavya Path amid Delhi cold wave – See PHOTOS