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Novo Nordisk Overtakes Eli Lilly in Market Cap as Weight-Loss Drug Race Intensifies
Novo Nordisk Overtakes Eli Lilly in Market Cap as Weight-Loss Drug Race Intensifies
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Novo Nordisk has reclaimed its position as Europe''s most valuable publicly traded company, with its market capitalization surging to $367 billion amid a 20% stock rally over the past month. The Danish pharmaceutical giant''s resurgence comes at the expense of Eli Lilly, whose shares are sliding as investors pivot toward Novo''s accelerated weight-loss drug pipeline.
Key to Novo''s rebound is the fast-tracking of experimental drug amycretin into late-stage trials, alongside development of a pill version that could disrupt Eli Lilly''s dominance in the GLP-1 agonist market. The competitive jockeying reflects the high-stakes battle for supremacy in the $100B+ obesity treatment sector.
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