Industry Notes

Industry Notes / Pharma / Chapter 4 of 20 · Bar

The same category can still split apart

A right market and weak execution can still fall

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Market value
Eli Lilly
1120 $bn
Novo Nordisk
160 $bn

In August 2026 Eli Lilly was about $1.12 trillion and Novo Nordisk about $160 billion. They were close three years earlier. Novo did not lose because GLP-1 was the wrong category.

Source：YCharts / TradingEconomics 市值（2026-08）；经营指引以礼来、诺和诺德公司公告为准

Research notes, not investment advice.