Novo Nordisk and Lilly post strong performance

Fueled by soaring sales of diabetes and obesity drugs

Sales of Novo Nordisk’s obesity treatment rose 42% YoY

Lilly’s Q1 sales exceed KRW 1.2 trillion… driven by Mounjaro and Zepbound

The performance of Novo Nordisk and Eli Lilly, which released blockbuster diabetes and obesity drugs, have improved greatly in Q1 this year.

 

Novo Nordisk's GLP-1 class diabetes drugs together generated KRW 10 trillion in quarterly sales.

 

Lilly's obesity drug Zepbound posted sales of KRW 700 billion in Q1 this year, reaching nearly 1 trillion won in only half a year since its launch.

 

According to KoreaBio data on the 3rd, Novo Nordisk's first-quarter sales rose 24% YoY to KRW 12.886 trillion (DKK 65.349 billion).

 

The exchange rate was based on the basic rate of exchange as of May 2.

 

Novo Nordisk's diabetes medicines generated sales of KRW 9.8456 trillion, up 24% YoY.

 

In particular, sales of GLP-1 diabetes medicines surged 32% YoY to KRW 6.8981 trillion.

 

Novo Nordisk's GLP-1 class diabetes drugs include Ozempic, Rybelsus, and Victoza, which are semaglutide and liraglutide drugs.

 

Sales of obesity treatments totaled at KRW 2.1759 trillion, up 42% from Q1 2022.

 

Specifically, Wegovy’s sales rose 107% to KRW 1.849 trillion.

 

As of February 2024, the global market share of Novo Nordisk's diabetes treatments was 34%, including 35% in North America, 30% in Europe and 32% in China.

 

Its global share of obesity medicines amounts to 85%.

 

Lilly sees strong sales of diabetes and obesity drugs Lilly also reported first-quarter sales of KRW 12.43 trillion (USD 8.77 billion), up 26% YoY, driven by new diabetes and obesity drugs.

 

The increase was driven by the company’s new products.

 

Sales of its new products launched in 2022 and thereafter jumped 495%, bringing in KRW 3.27 trillion in Q1, up from KRW 550 billion in Q1 last year.

 

Mounjaro’s revenue increased 218% from KRW 780 billion in Q1 last year to KRW 2.48 trillion in Q1 this year, recording a revenue of KRW 2.08 trillion in the U.S.

 

alone.

 

Mounjaro is a type 2 diabetes treatment developed by Eli Lilly that has a dual effect on glucagon-like peptide-1 (GLP-1) and glucose-dependent insulinotropic polypeptide (GIP).

 

By acting on GLP-1 and GIP, Mounjaro provides further blood glucose control.

 

Mounjaro has also been shown to have dramatic weight loss benefits.

 

Last year, Lilly also launched Zepbound, an obesity drug that contains the same substance as Mounjaro, after confirming its weight-loss benefits in clinical trials.

 

The drug has become a global blockbuster only half a year after its launch, posting sales of KRW 71 billion in Q1.

 

Demand for GLP-1 class drugs surge...company will address supply issue Novo Nordisk and Lilly are working to ensure smooth production of their GLP-1s, which are experiencing supply shortages.

 

Currently, GLP-1 medicines are experiencing global stock-outs due to a surge in demand.

 

Novo Nordisk plans to accelerate production by acquiring Catalent’s plant from Novo Holdings.

 

Since Novo Holdings acquired Catalent last year, it has handed over 3 plants to its subsidiary, Novo Nordisk.

 

Lilly has recently signed contract development and manufacturing organizations (CDMOs) with National Resilience in the U.S.

 

and BSP Pharmaceuticals in Italy to increase its production capacity.

 

To further increase its production facility in the mid-to long-term, Lilly recently acquired Nexus Pharmacutical's manufacturing facility in the U.S.

 

and broke ground on a parenteral (injectable) manufacturing plant in Germany, both of which are expected to be operational by the end of 2025 and 2027, respectively.