Novo Nordisk and Lilly See Sales Surge for Obesity Drugs Despite Supply Shortages

Novo Nordisk and Eli Lilly saw sales growth in Q3 for their popular diabetes and weight loss drugs like Ozempic, Wegovy, and Mounjaro despite supply shortages.

High demand is outstripping supply for Ozempic, Wegovy, and Mounjaro, so the companies are working to boost production capacity.

Novo Nordisk's Wegovy sales hit $1.37 billion in Q3, up 200% year-over-year. Lilly's Mounjaro hit $1.41 billion.

The companies aim to convince payers like insurance companies to keep covering the high costs of these drugs amid rising popularity.

Novo and Lilly are competing for future market share in the obesity and diabetes drug space as they expand supply.