Novo Nordisk's (NVO) investors are worried its competition with Eli Lilly (LLY) is heating up and that the first-to-market GLP-1 leader is losing ground. Even with 72% of the global market share, the competition in the US has been pressuring the company's stock in recent months.

Drugmaker Novo Nordisk expects Wegovy weight-loss drug sales in the United States to start to recover once a ban on compound copycats is enforced this month, its CEO said on Wednesday after the company cut its 2025 forecasts.

Novo Nordisk’s oral Wegovy pill for chronic weight loss is under FDA review. If approved, it would be the first oral GLP-1 for obesity.