2 1 Shi Ji Jing Ji Bao Dao·2025-05-07 09:08Core Insights - Novo Nordisk and Eli Lilly continue to show strong performance growth in Q1 2025, driven by their GLP-1 drugs [1][2][3] - The global GLP-1 drug market is expected to exceed $60 billion by 2025, with both companies competing aggressively for market share [2][6] Financial Performance - Novo Nordisk reported total revenue of 78.087 billion Danish Krone (approximately $11.216 billion) in Q1 2025, a year-on-year increase of 18% [1] - Eli Lilly's Q1 2025 revenue reached $12.729 billion, reflecting a 45% year-on-year growth [2] - Novo Nordisk's semaglutide generated a total revenue of 56.934 billion Danish Krone (approximately $8.011 billion), a 31% increase [1][3] - Eli Lilly's tirzepatide contributed $6.15 billion to its revenue, accounting for about 48% of its total Q1 revenue [2] Market Dynamics - The GLP-1 drug class has emerged as a significant market player, with semaglutide and tirzepatide leading the way [3][6] - Novo Nordisk holds a 55.3% share of the global GLP-1 market, but faces increasing competition from domestic companies in China as its patents expire in 2026 [7][10] - The number of patients treated with obesity medications in major markets is expected to grow significantly, indicating a large untapped market [5] Research and Development - Novo Nordisk has submitted a marketing application for semaglutide for treating liver fibrosis and has terminated the development of a weekly oral formulation [4] - Eli Lilly plans to submit a marketing application for orforglipron for type 2 diabetes in H1 2026 and is expanding research into hypertension and obstructive sleep apnea [4] Competitive Landscape - The competition in the GLP-1 market is intensifying, with numerous domestic companies entering the space and developing new formulations [7][10] - The rise of domestic GLP-1 drugs is expected to disrupt the current market dynamics, with potential for a significant increase in market share for local players [10] - Companies are focusing on enhancing drug efficacy, oral formulations, and cost-effectiveness to attract consumers in a saturated market [6][10]