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By Madison Muller

February 6, 2024 at 11:52 AM UTC

Updated on

February 6, 2024 at 4:35 PM UTC

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Eli Lilly & Co. is racing to show it can meet demand for its blockbuster drugs for weight loss and diabetes amid intensifying competition from its biggest rival.

Novo Nordisk A/S, whose drugs compete with Lilly’s Zepbound and Mounjaro, bought three drug manufacturing plants on Monday for $11 billion. Now, Lilly is focusing on production, with Chief Financial Officer Anat Ashkenazi telling investors the drugmaker is taking on “the most ambitious expansion agenda” in the company’s history.