The Intelligence from The Economist Weight boss? Competition for Novo Nordisk
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Dec 18, 2025 
Shalash Chitnis, a global business writer for The Economist, dives into the fierce competition between Novo Nordisk and Eli Lilly in the weight-loss drug market. He highlights how Lilly's ZepBound is threatening Novo's dominance. Lane Green, a language writer, explores the origins of slang, arguing that crude words may have been among the first uttered by humans. Bella King, covering agriculture, discusses the surprising rise in wool prices tied to demand and the happiness of sheep, while highlighting the challenges facing Britain's wool industry.
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Market Was Bigger And More Consumer-Driven
- Novo Nordisk underestimated how huge and consumer-driven the weight-loss market would become.
- That left space for Eli Lilly's ZepBound to capture market share via direct-to-consumer channels and a stronger product profile.
Dramatic Restructuring And Focused Strategy
- The new CEO cut about 9,000 jobs, the largest layoff in Danish history, to 'right size' Novo Nordisk.
- He also refocused the company on obesity and diabetes to sharpen its strategy.
Distribution Shift Hurt Traditional Pharma Players
- Pharma traditionally sold through insurers and doctors, but weight-loss demand came directly from consumers.
- Novo was slow to adapt commercial channels while Eli Lilly offered telehealth prescriptions and direct purchase options.