New obesity drugs

Novo Nordisk's biggest competitor boosts report

The American weight loss drug giant, Eli Lilly, earned more money than expected in the second quarter. The company also raised its forecast for the full year in today's report. The company now forecasts revenue of 85-87 billion dollars for the full year.

The stock has risen over 300 percent in the past five years as the popularity of diet pills has increased. The company continues to rise ahead of the stock market opening in the US.

Eli Lilly is the biggest competitor to Danish Novo Nordisk. The Danish giant, which also reported today, fell 5 percent on the Copenhagen Stock Exchange.

Novo Nordisk's interim results lower - weighing on the Copenhagen Stock Exchange

Novo Nordisk's share is down around 5 percent, dragging the entire Copenhagen Stock Exchange down with it. The decline comes despite the pharmaceutical giant reporting higher sales and operating profit than expected and raising its full-year forecast.

The market seems to be focusing on the fact that sales of Wegovy in tablet form did not exceed expectations, which surprises SB1's pharmaceutical analyst Johan Unnerus.

- They are clearly delivering above expectations in terms of profitability and in diabetes, he tells TT.

According to Unnerus, Novo Nordisk continues to be pressured by Eli Lilly in injectable weight loss drugs, but has a lead in the market for weight loss pills.