Has Novo Nordisk Finally Found the Catalyst That Could Flip the Script on Eli Lilly?

Key Points Novo Nordisk was first with a GLP-1 weight-loss shot, but lost the lead to Eli Lilly. Novo Nordisk was first to market with a GLP-1 pill, though Eli Lilly is now competing there, as well. Novo Nordisk is trying to take the lead again through a partnership with Vivani Medical that could push convenience to the next level. 10 stocks we like better than Novo Nordisk › Novo Nordisk (NYSE: NVO) started the GLP-1 weight-loss revolution that is sweeping the world. Its Wegovy/Ozempic shot was so popular that the company couldn't keep up with demand. That proved to be a major problem for the company, particularly after competitor Eli Lilly (NYSE: LLY) introduced its own GLP-1 weight-loss drug, Zepbound/Mounjaro, which enabled greater weight loss. But Novo Nordisk has been fighting back. Right now, that's all about its Wegovy pill. But a new partnership with Vivani Medical (NASDAQ: VANI) could flip the script on the entire GLP-1 industry. Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue » Image source: Getty Images. Novo Nordisk is working to get back on top The healthcare industry is highly innovative and highly competitive. It isn't surprising at all that Novo Nordisk's early success in the GLP-1 weight-loss niche didn't last. But the fact that Eli Lilly introduced a more desirable GLP-1 product should not be taken as an indication that it has a permanent lead. One of the big problems with early GLP-1 weight-loss drugs is the delivery method. Shots are not something that most people like to take, let alone give to themselves on a weekly basis. Which is why both Eli Lilly and Novo Nordisk were working on daily pills. Novo Nordisk was, again, first to market with a pill version of Wegovy. The uptake of this version of the drug has been strong, as you might expect. Eli Lilly has since introduced its own GLP-1 pill. However, that pill delivers a different GLP-1 drug, known as Foundayo. That means Eli Lilly can't lean as heavily on its success with Zepbound/Mounjaro when marketing Foundayo. It has to introduce an entirely new drug, which is a much more difficult process. Novo Nordisk is in an advantaged position, for now. Novo Nordisk leans into convenience The difference between a shot and a pill is pretty big. While a daily pill may require more frequent dosing, it is likely to be seen as much more convenient than a weekly shot. But Novo Nordisk isn't done yet. It inked a deal with Vivani Medical to explore an implant that will automatically administer Novo Nordisk's Wegovy. Research on this delivery method is still in its early stages, but it could mean patients only need to manage their GLP-1 drugs once or twice a year. That would take convenience to the next level and could totally change the dynamics of the GLP-1 race. At this point, it doesn't appear that Eli Lilly is working on anything similar. It is too early to suggest that Novo Nordisk has found the tool it needs to regain the GLP-1 lead. But in the highly innovative pharmaceutical sector , it is clearly working hard to differentiate its weight-loss offerings. The more choices patients have with Wegovy, the more ways Novo Nordisk has to catch up to Eli Lilly. Eli Lilly isn't sitting still; it's moving in a different direction For its part, Eli Lilly has been using its GLP-1 success to expand its business into new treatment areas. That may sound like a mistake as Novo Nordisk leans into the hot GLP-1 niche, but it really isn't. In the second quarter of 2026, GLP-1 drugs accounted for roughly two-thirds of Eli Lilly's revenue. From a strategic standpoint, focusing on diversification is a good plan. Still, Novo Nordisk's continued innovation in the GLP-1 space could give it a chance to regain the lead. And that's something that investors shouldn't ignore, noting that Eli Lilly's price-to-earnings ratio is 40x compared to Novo Nordisk's 11.5x. The underdog here looks relatively cheap, but it also isn't out of the fight yet. Should you buy stock in Novo Nordisk right now? Before you buy stock in Novo Nordisk, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Novo Nordisk wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $440,710 !* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,335,252 !* Now, it’s worth noting Stock Advisor’s total average return is 978 % — a market-crushing outperformance compared to 213% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor , and join an investing community built by individual investors for individual investors. See the 10 stocks » *Stock Advisor returns as of August 29, 2026. Reuben Gregg Brewer has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Eli Lilly and Novo Nordisk. The Motley Fool has a disclosure policy .

Novo Nordisk was first with a GLP-1 weight-loss shot, but lost the lead to Eli Lilly.

Novo Nordisk was first to market with a GLP-1 pill, though Eli Lilly is now competing there, as well.

Novo Nordisk is trying to take the lead again through a partnership with Vivani Medical that could push convenience to the next level.

Novo Nordisk (NYSE: NVO) started the GLP-1 weight-loss revolution that is sweeping the world. Its Wegovy/Ozempic shot was so popular that the company couldn't keep up with demand. That proved to be a major problem for the company, particularly after competitor Eli Lilly (NYSE: LLY) introduced its own GLP-1 weight-loss drug, Zepbound/Mounjaro, which enabled greater weight loss.

But Novo Nordisk has been fighting back. Right now, that's all about its Wegovy pill. But a new partnership with Vivani Medical (NASDAQ: VANI) could flip the script on the entire GLP-1 industry.

Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »

The healthcare industry is highly innovative and highly competitive. It isn't surprising at all that Novo Nordisk's early success in the GLP-1 weight-loss niche didn't last. But the fact that Eli Lilly introduced a more desirable GLP-1 product should not be taken as an indication that it has a permanent lead.