Lilly widens GLP-1 lead as Novo's growth path faces questions

Eli Lilly beat estimates again, lifted full-year guidance, and extended its lead in the GLP-1 obesity/diabetes market with strong demand for Mounjaro and Zepbound, sending the stock higher. Novo Nordisk also beat and raised guidance but faced investor skepticism over its growth trajectory after Wegovy missed expectations, mixed results for its experimental CagriSema, and concerns about pipeline diversification. The market remains bifurcated: Lilly is seen as the momentum winner, while Novo grapples with turning around its growth story despite European expansion and Wegovy's continued rollout, including a September German launch.