Jessica Mendoza

Soon, Novo CEO Lars Juergensen saw his company's lead slipping. Not only was Novo's old rival eating up market share, Novo also found itself struggling to keep up with demand. The company just didn't have manufacturing capacity to produce Ozempic and Wegovy fast enough, and shortages became common, which also opened the way for knockoff versions of the drugs to further erode Novo's market share.

Soon, Novo CEO Lars Juergensen saw his company's lead slipping. Not only was Novo's old rival eating up market share, Novo also found itself struggling to keep up with demand. The company just didn't have manufacturing capacity to produce Ozempic and Wegovy fast enough, and shortages became common, which also opened the way for knockoff versions of the drugs to further erode Novo's market share.

Juergensen eventually resolved the manufacturing problem, but what investors were really after was the next breakthrough, the next Ozempic.

Juergensen eventually resolved the manufacturing problem, but what investors were really after was the next breakthrough, the next Ozempic.

Juergensen eventually resolved the manufacturing problem, but what investors were really after was the next breakthrough, the next Ozempic.

By then, the end of 2024 was approaching, and Novo was hyping up Kagrosima as its new breakthrough drug. It just needed to prove it with a major clinical trial. That's next. Novo Nordisk needed a big win. And its CEO, Lars Jørgensen, was hoping that Cagrosima, a drug they'd been developing to treat obesity and type 2 diabetes, would be able to deliver.

By then, the end of 2024 was approaching, and Novo was hyping up Kagrosima as its new breakthrough drug. It just needed to prove it with a major clinical trial. That's next. Novo Nordisk needed a big win. And its CEO, Lars Jørgensen, was hoping that Cagrosima, a drug they'd been developing to treat obesity and type 2 diabetes, would be able to deliver.

By then, the end of 2024 was approaching, and Novo was hyping up Kagrosima as its new breakthrough drug. It just needed to prove it with a major clinical trial. That's next. Novo Nordisk needed a big win. And its CEO, Lars Jørgensen, was hoping that Cagrosima, a drug they'd been developing to treat obesity and type 2 diabetes, would be able to deliver.

The hope was that Cagrosima would be even more effective for weight loss than Eli Lilly's ZepBound.

The hope was that Cagrosima would be even more effective for weight loss than Eli Lilly's ZepBound.

The hope was that Cagrosima would be even more effective for weight loss than Eli Lilly's ZepBound.

But when the data from the clinical trial came out... It just wasn't as good as expected.

But when the data from the clinical trial came out... It just wasn't as good as expected.

But when the data from the clinical trial came out... It just wasn't as good as expected.

It's pretty incredible to think, you know, a few years ago, the idea of a drug being able to reliably help people lose up to 15% of their body weight was unthinkable. And now they're like, oh, only 22%. Sorry. Like, that's mind blowing.

It's pretty incredible to think, you know, a few years ago, the idea of a drug being able to reliably help people lose up to 15% of their body weight was unthinkable. And now they're like, oh, only 22%. Sorry. Like, that's mind blowing.

It's pretty incredible to think, you know, a few years ago, the idea of a drug being able to reliably help people lose up to 15% of their body weight was unthinkable. And now they're like, oh, only 22%. Sorry. Like, that's mind blowing.

Pretty soon, the Novo Nordisk Foundation, the nonprofit running Novo Nordisk the company, started to have concerns over their ability to keep pace with Eli Lilly. And in January, those fears became a reality. New data showed that U.S. prescriptions for Lilly's Zepbound had beaten Novo's Wegovi for the first time.

Pretty soon, the Novo Nordisk Foundation, the nonprofit running Novo Nordisk the company, started to have concerns over their ability to keep pace with Eli Lilly. And in January, those fears became a reality. New data showed that U.S. prescriptions for Lilly's Zepbound had beaten Novo's Wegovi for the first time.

Pretty soon, the Novo Nordisk Foundation, the nonprofit running Novo Nordisk the company, started to have concerns over their ability to keep pace with Eli Lilly. And in January, those fears became a reality. New data showed that U.S. prescriptions for Lilly's Zepbound had beaten Novo's Wegovi for the first time.