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Novo's woes in spite of Ozempic's growth

The market for weight-loss drugs is booming - but the pioneer in the field is shedding profits and share value, writes Adam Maguire

Business • 28 Feb

Novo Nordisk, which was worth more than $600 billion in 2024, has shed around $400 billion off that valuation

Novo Nordisk slump wipes out last Wegovy-era gains

Novo Nordisk shares fell more than 15% today, wiping away the last gains Wegovy's launch had brought, after the drugmaker said its next-generation obesity drug CagriSema underperformed Eli Lilly's tirzepatide in a trial.

Business • 23 Feb

Three multinationals paying 46% of Corporation Tax - IFAC

The State's fiscal watchdog has estimated that almost half of the Corporation Tax collected by the State is paid by three multinational companies.

Business • 19 Feb

Lilly predicts strong growth in 2026 as rival Novo slips

Eli Lilly has today forecast strong profit growth for 2026 on the back of surging obesity drug demand, shaking off pricing pressures that helped sink rival Novo Nordisk's outlook.

Business • 04 Feb

Novo Nordisk confirmed that it is adjusting the price of Wegovy in China

Novo and Lilly cut prices of weight-loss drugs in China

Novo Nordisk and Eli Lilly are lowering prices of their top-selling obesity drugs Wegovy and Mounjaro in China, according to the Danish drugmaker and Chinese drug suppliers.

Business • 30 Dec 25

Novo Nordisk shares jump after US approves Wegovy pill

Novo Nordisk shares jumped 10% today after the US Food and Drug Administration approved its weight-loss pill, giving the Danish drugmaker a competitive edge over rival Eli Lilly in the fast-evolving market for obesity drugs.

Business • 23 Dec 25

Economy gets fatter from making the world slimmer

Bertie Ahern's famous economic analysis that the "boom is getting boomier" is an apt description for what is happening in Ireland now.

Business • 08 Dec 25

Eli Lilly first drugmaker to hit $1 trillion valuation

Eli Lilly has hit $1 trillion in market value, making it the first drugmaker to enter the exclusive club dominated by tech giants and underscoring its rise as a weight-loss powerhouse.

Business • 24 Nov 25

Eli Lilly says weight-loss pill candidate speedy approval

Eli Lilly said its experimental weight-loss pill met most criteria for the US Food and Drug Administration's new national priority voucher, suggesting it is a strong candidate for a significantly accelerated approval review.

Business • 30 Oct 25

Novo Nordisk became Europe's most valuable listed company following the launch of Wegovy in 2021

Novo Nordisk freezes hiring for non-critical jobs

Wegovy-maker NovoNordisk has implemented a global hiring freeze covering job roles that are not critical for its business, the company said today.

Business • 20 Aug 25

LONDON,ENGLAND - MAY 30: A photo illustration of a Mounjaro pen on May 30 2025 in London, England. Mounjaro is a treatment for weight loss and type 2 diabetes. (Photo by Peter Dazeley via Getty Images)

Lilly to hike UK price of Mounjaro by 170%

Eli Lilly said will raise the UK list price of its weight-loss treatment Mounjaro by up to 170%, amid a White House push to get drugmakers to raise medicine prices in Europe to allow for pricecuts in the United States

Business • 14 Aug 25

Eli Lilly is the most valuable healthcare company in the world

Eli Lilly forecasts 2025 profit growth

Eli Lilly has today forecast annual profit largely above Wall Street estimates, providing some relief to investors after another quarter of sales miss for its popular diabetes and weight-loss treatments.

Business • 06 Feb 25

During the fourth quarter, sales of Wegovy more than doubled to 19.9 billion crowns from 9.6 billion a year ago

Novo Nordisk sees slower sales growth in 2025

Wegovy maker Novo Nordisk has today forecast sales would grow at a slower rate this year although the outlook was roughly in line with market expectations as the pace of ferocious demand for its wildly popular obesity drug Wegovy eases somewhat.

Business • 05 Feb 25

Lilly's latest investment will allow for increased production at the Limerick plant

Lilly to create 150 more jobs at Limerick plant

Pharmaceutical company Eli Lilly has announced a further €927 million investment at its facility at Raheen in Limerick, creating a further 150 jobs there.

Munster • 12 Sep 24

Eli Lilly's weight-loss drug Zepbound has crossed $1 billion in sales for the first time in a quarter

Eli Lilly raises annual profit forecast on Zepbound sales

Eli Lilly has today raised its annual profit forecast and boosted its revenue expectations by $3 billion, as it benefited from ramped up manufacturing capacity for its highly popular weight-loss and diabetes drugs.

Business • 08 Aug 24

Novo Nordisk has today raised its 2024 sales forecast but cut its profit outlook

Obesity drugmaker Novo Nordisk misses Q2 profit forecast

Novo Nordisk has today trimmed its full-year profit outlook after reporting weaker-than-expected quarterly sales of its popular weight-loss drug Wegovy, stirring worries among investors about stiffening competition from Eli Lilly.

Business • 07 Aug 24

The latest executive change comes at a crucial time for Alphabet.

Alphabet names Eli Lilly veteran Ashkenazi as CFO

Alphabet named Anat Ashkenazi as its chief financial officer today, leaning on the two-decade veteran of drugmaker Eli Lilly to help steer the Google parent in the generative artificial intelligence era.

Business • 05 Jun 24

Eli Lilly now expects 2024 revenue of $42.4 billion to $43.6 billion, up from its previous forecast of $40.4 billion to $41.6 billion

Eli Lilly ups 2024 sales view on weight-loss drug demand

Explosive demand and increased manufacturing capacity for Eli Lilly's weight-loss drug Zepbound drove the company to raise its annual sales forecast by $2 billion today, lifting its shares nearly 6%.

Business • 30 Apr 24

Strong demand for its diabetes drug Mounjaro and weight-loss treatment Zepbound led investors to buy up Eli Lilly's stock last year

Eli Lilly expects strong 2024 profits

Eli Lilly has today forecast 2024 profit above Wall Street estimates on soaring demand for its weight-loss drug, and said the treatment helped reduce symptoms of a fatty liver disease in a mid-stage trial.

Business • 06 Feb 24

Nestle chief executive Mark Schneider sees opportunities ahead for the company

Weight-loss drugs no threat to coffee business - Nestle

Nestle sees no threat to its huge coffee business from the rising popularity of weight-loss drugs like Eli Lilly's Zepbound and Novo Nordisk's Wegovy, its chief executive Mark Schneider said this week.

Business • 21 Dec 23

Eli Lilly is now the world's most valuable healthcare company by market capitalisation

Eli Lilly cuts annual profit view on acquisition charge

Eli Lilly has today cut its full-year adjusted earnings outlook owing to charges related to its recent acquisitions, even as its popular diabetes drug Mounjaro brought in a billion dollars in quarterly sales.

Business • 02 Nov 23

An artist's impression of what the new Eli Lilly plant will look like

Eli Lilly doubles investment in Limerick plant to $1bn

Pharma giant Eli Lilly is to double the amount it is investing in a new biologics manufacturing facility in Limerick to $1 billion.

Business • 27 Mar 23

An artist's impression of the €400m facility

Eli Lilly receives permission for €400m Limerick plant

Biopharmaceutical company, Eli Lilly, has received planning permission for its proposed new biologics plant in Co Limerick.

Business • 12 Oct 22

Eli Lilly already has a large presence in Cork

300 jobs to be created at new Eli Lilly Limerick plant

Pharmaceutical company Eli Lilly is to invest €400m in a new manufacturing plant in Limerick which will employ 300 permanent staff when it is completed.

Business • 28 Jan 22

Purdue Pharma has agreed tentative multibillion-dollar deal with some plaintiffs aimed at settling thousands of lawsuits over its alleged role in the US opioid crisis

Purdue deal to rank among biggest in pharma history

OxyContin maker Purdue Pharma LP has reached a tentative multibillion-dollar agreement with some plaintiffs aimed at settling thousands of lawsuits over its alleged role in the US opioid crisis.

Business • 16 Sep 19