The analyst highlights that Lilly’s drugs, Mounjaro and Zepbound, will likely keep gaining U.S. market share from Novo Nordisk’s Ozempic and Wegovy. Seigerman noted that although Novo Nordisk initially benefited from being first to market with semaglutide, that early lead is quickly diminishing.

U.S.-listed shares of Novo Nordisk plunged 7% in intraday trading Thursday after rival Eli Lilly reported positive oral weight-loss drug news and BMO cut its rating for the Danish drug developer's stock.

U.S. pharma giant Eli Lilly And Co (NYSE:LLY) announced the launch of its popular weight loss drug Mounjaro (tirzepatide) in India, which is expected to have the second-largest population of overweight or obese people by