Novo Nordisk A's

Novo Nordisk operates in a competitive market for GLP-1 therapies targeting obesity and diabetes, facing significant competition primarily from Eli Lilly. The company markets several drugs, including Saxenda®, Wegovy® (available in injectable and pill forms), Ozempic®, Rybelsus®, and Victoza®. In 2025, Novo Nordisk experienced a loss of volume market share in the GLP-1 segment. Supply constraints affected products such as Ozempic® during this period, though manufacturing scale-up has since improved availability. Pricing pressures have increased due to negotiations involving pharmacy benefit managers and US Medicare Part D under the Inflation Reduction Act, impacting semaglutide-based products including Ozempic®, Rybelsus®, and Wegovy®. Biosimilar competition exists for insulin products like NovoRapid®/NovoLog®, with biosimilars launched or approved since 2020 and 2021, and additional biosimilar insulins under development in China by local competitors. The compound patent for Victoza® has expired in multiple regions, with biosimilar versions approved, including in China in 2023. Novo Nordisk has received notifications of Abbreviated New Drug Applications (ANDAs) filed for generic versions of Victoza®, Saxenda®, Ozempic®, Wegovy®, and Rybelsus®.