Eli Lilly and Co. extended its advantage over Novo Nordisk in the GLP-1 market during the second quarter, even as Novo’s oral Wegovy notched a strong early launch.
Lilly reported Aug. 5 second-quarter revenue of $22.97 billion, up 48% year over year, driven by a 60% increase in volume. Mounjaro and Zepbound remained the growth engine. Worldwide Mounjaro revenue rose 91% to $9.9 billion, with U.S. revenue up 45% to $4.8 billion. U.S. Zepbound revenue grew 46% to $4.9 billion.
The quarter also marked Lilly’s first with reported revenue from Foundayo, its oral GLP-1 that reached the market in April. The pill booked $98 million, a fraction of Mounjaro’s and Zepbound’s sales, but Lilly’s first data point since launch. Executives also tied Foundayo’s momentum to the Medicare GLP-1 Bridge program, which launched July 1 and has expanded obesity drug access to 35% more Americans. About 80% of new Bridge program patients are choosing injectables over pills so far, according to Lilly.
Novo Nordisk, by contrast, posted second-quarter net sales of about $12.3 billion, up 3% from a year ago. Novo raised its full-year outlook, now expecting adjusted sales and operating profit to decline 0% to 6% for the year, an improvement from its prior forecast of a 4% to 12% decline.
The bright spot was Novo’s oral Wegovy pill, which has surpassed 5 million U.S. prescriptions since its launch and remains the market leader by new patient starts among branded obesity drugs. That builds on momentum the company touted earlier this year, when it said Wegovy pill prescriptions were being filled at a rate of one every five seconds. But that wasn’t enough to offset weakness elsewhere: U.S. sales of injectable Wegovy fell 22% from a year ago.
The rivalry has also turned litigious. Novo Nordisk sued Eli Lilly and Lilly USA in federal court in New Jersey on July 21, alleging false advertising and unfair competition over nationwide direct-to-consumer advertising campaigns comparing the companies’ GLP-1 drugs. The suit adds a legal front to a competition that has already played out across pricing, Medicare access and drug formulation over the past year, a fast-shifting GLP-1 landscape for health system pharmacy leaders weighing formulary and access decisions heading into 2027.
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