Novo and Lilly Need a Profit Beat to Take Back Market Momentum
- Lilly and Novo trade at steep premiums to other drugmakers
- Supply constraints have limited their ability to boost sales
Analysts estimate Novo’s Wegovy and Ozempic will have combined sales of more than $27 billion this year.
Photographer: Carsten Snejbjerg/BloombergThis article is for subscribers only.
Eli Lilly & Co. and Novo Nordisk A/S have had their years-long stock momentum halted in recent weeks, putting extra importance on this week’s earnings from the obesity drugmakers.
The share-price decline since mid-July has shaved billions of dollars off the market value of the Zepbound and Wegovy makers, trimming their year-to-date outperformance of sector peers. And after recent outlook upgrades from Pfizer Inc., Roche Holding AG and AstraZeneca Plc, the pressure is on for them to follow suit.