Eli Lilly and Company (LLY) Hopes to End Novo Nordisk A/S (NVO)'s Stranglehold on the GLP-1 Market
6/27/2013 10:30:28 AM
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Competition in the GLP-1 market is heating up. Byetta (Exenatide) was first to the market but was quickly overtaken once Novo Nordisk (NVO) released Victoza (Liraglutide). Victoza now makes up 13% of Novo Nordisk's revenue and with 35% growth last quarter it leads all their other medications in growth prospects. Eli Lilly (LLY) has grand ambitions to expand their product line in the diabetes market which is Novo Nordisk's bread and butter. Their first salvo looks to be a GLP-1 agonist called Dulaglutide. Currently Victoza (Liraglutide) controls 68%of the GLP-1 market. With GLP-1 drugs steadily increasing in use it will end up being a much larger market.
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