Overview
- Lilly leads the GLP-1 weight-loss market with its injectable drugs Mounjaro and Zepbound.
- The two injections generated 54% of company revenue through the first nine months of 2025.
- Top-line revenue rose about 46% year over year through the first three quarters of 2025, driven largely by GLP-1 demand.
- Novo Nordisk, first to market in the category, has introduced a pill version of its drug, increasing competitive pressure.
- Management is deploying GLP-1 profits to broaden the pipeline with the Adverum purchase in late 2025 and an agreement to buy Ventyx in early 2026, even as the article argues the stock’s valuation looks stretched.