Lilly vs. Novo: Inside the Milan EASD Showdown and the ETFs Poised to Win
Eli Lilly and Novo Nordisk presented new clinical data at the EASD meeting, highlighting their weight-loss drugs. Lilly's retatrutide showed 34.9% of patients lost at least 25% body weight, while Novo's Ozempic showed a 6% lower cardiovascular risk. The GLP-1 market is expanding, with ETFs like OZEM, HRTS, and THNR offering diversified exposure to companies like LLY, NVO, PFE, AMGN, and REGN.
How this was made
The 30-second read
Why it matters
New trial data from Lilly and real‑world evidence from Novo provide fresh catalysts that could shift investor sentiment and ETF allocations toward GLP‑1 exposure.
Market read
First‑time disclosure of pivotal trial results for leading GLP‑1 drugs, likely to move stocks and sector‑focused ETFs.
What to watch
Potential safety concerns, competitive pipeline from other firms, and pricing pressures could temper enthusiasm.
Background
The 2026 EASD meeting in Milan featured a data showdown between Lilly and Novo, highlighting the expanding GLP‑1 weight‑loss market.
Ticker impact
Lilly presented Phase 3 data showing 34.9% of patients lost ≥25% body weight, a first-time disclosure.
likely upward pressure as investors price in superior trial results
Phase 3 results are material and new, prompting immediate market reaction.
Novo released real‑world data indicating Ozempic reduces major cardiovascular events by 6% versus Lilly's Mounjaro.
potential modest upside or limited movement pending market interpretation
Real‑world evidence is new but less dramatic than Phase 3 data, so impact may be muted.
Market effects
Accelerates growth narrative for GLP‑1 weight‑loss drugs, benefiting related biotech and pharma stocks.
European biotech markets may see increased investor interest following the conference data.
Strengthens global appetite for obesity therapeutics, influencing capital allocation across markets.
Counterpoint
Investors may wait for FDA filing outcomes before committing, as trial success does not guarantee approval.
Key entities
- CompanyEli Lilly
Pharmaceutical company presenting Phase 3 retatrutide data.
- CompanyNovo Nordisk
Pharmaceutical company presenting Ozempic real‑world data.
