In a year marked by fierce competition and scientific breakthroughs, the global market for obesity and diabetes drugs is undergoing seismic shifts. Pharmaceutical giants Eli Lilly and Novo Nordisk are at the center of this battle, with new studies, regulatory changes, and market reactions shaping a future where weight loss treatments are not only more effective but also more accessible—though not without challenges.
At the heart of recent developments is Mounjaro, Eli Lilly’s injectable medication containing tirzepatide. Originally approved for type 2 diabetes, Mounjaro has quickly gained attention for its effectiveness in chronic weight management and, surprisingly, its potential to curb alcohol consumption. According to a study published in early January 2026 in eBioMedicine, researchers from Sweden, South Carolina, and Brazil found that tirzepatide reduced alcohol intake in rodents by more than half compared to a control group. As Neuroscience News.com summarized, "tirzepatide consistently reduced alcohol intake across different drinking paradigms and both sexes without signs of tolerance development." The study also suggested that tirzepatide could help decrease relapse vulnerability—an insight that could have important therapeutic implications down the line.
These findings build on earlier research into GLP-1 drugs like Ozempic and Wegovy, which have also shown promise in reducing alcohol consumption. Notably, a February 2025 study indicated similar effects, broadening the potential applications for this class of medications. With a 2025 Gallup survey reporting that only 54 percent of American adults now consume alcohol—a historic low—there’s growing interest in how these drugs might be influencing broader health trends.
But Mounjaro’s impact doesn’t stop at alcohol consumption. In December 2025, the drug received regulatory approval for chronic weight management, joining a growing arsenal of treatments for obesity. As of February 2026, Mounjaro is available by prescription in select New Zealand pharmacies and across parts of the UK’s National Health Service (NHS). Dr. Chaey Leem, an obesity specialist, explained to Morning Report that Mounjaro’s dual-action approach—targeting two hormones instead of one, as with Wegovy—makes it uniquely effective. "You can kind of think of the medication unlocking two doors instead of one in your body's metabolism," Dr. Leem said. This innovation has translated into real-world results: "At the maximum doses of Mounjaro, patients on average have lost 22% of the initial weight in the trial, compared to 15% on the maximum dose of Wegovy."
Yet, as with many medical advances, cost remains a significant hurdle. Dr. Leem noted that Mounjaro’s price—ranging from $430 to nearly $900 per month—puts it out of reach for many. "Competition will hopefully help improve the situation for many patients, however, in fact there still might be a long way to go," he said. The hope is that increased competition will drive prices down, but for now, access is largely dictated by one’s ability to pay. Dr. Leem also highlighted the persistent stigma surrounding obesity, expressing hope that effective treatments could help shift public perception: "Once we have the tools to fight them and treat patients, hopefully the stigma towards obesity goes down, and in turn we can look into other options like bariatric surgery, which is usually much more cost effective from a public health perspective."
Across the Atlantic, the UK government is taking steps to improve access to weight loss treatments. Beginning in April 2026, general practitioner (GP) practices in England will receive an average bonus of £3,000 a year for prescribing Mounjaro to eligible patients, with an additional £1,000 for referring patients to weight loss programs. Health Secretary Wes Streeting emphasized the importance of need-based access, stating, "Weight loss drugs can be a real game changer for those who need them. I'm determined that access should be based on need, not ability to pay." He also warned about the dangers of rogue prescribers and unlicensed drugs proliferating outside the NHS.
Despite these incentives, experts caution that NHS access to Mounjaro remains tightly restricted. Currently, only those who are severely obese (with a BMI over 40 and certain health conditions) are eligible, though this threshold will be lowered to a BMI of 35 in 2027. By 2028, the NHS expects to have 220,000 patients on Mounjaro. Katharine Jenner, director of the Obesity Health Alliance, welcomed the incentives but noted, "This doesn't mean weight loss drugs will suddenly be available to everyone who wants them. NHS access will remain very limited and focused on those with the greatest clinical need, and these treatments are most effective when combined with sustained support." Dr. Katie Bramall of the British Medical Association echoed these sentiments, warning that the changes would not address the divide between those able to pay privately and those left waiting for NHS treatment.
Meanwhile, the competitive landscape is shifting rapidly. On February 23, 2026, Danish pharmaceutical company Novo Nordisk suffered a major setback when its stock price plunged more than 16 percent after the disappointing release of clinical trial results for its next-generation obesity drug, CagriSema. The 84-week trial, which included 809 obese adults with at least one comorbid condition, found that CagriSema achieved a 23 percent weight loss—less than the 25.5 percent seen with Eli Lilly’s Mounjaro. According to Reuters, Novo Nordisk’s market capitalization has plummeted by roughly 70 percent from its 2024 peak of $650 billion, returning to levels last seen in 2021. In stark contrast, Eli Lilly’s stock rose by nearly 5 percent on the same day, underscoring the market’s shifting allegiances.
Novo Nordisk’s management is not conceding defeat. The company announced plans for high-dose clinical trials of CagriSema in the second half of 2026, stating, "It is too early to conclude that this is a failure. We will demonstrate the drug’s potential in future clinical trials." Still, industry analysts have voiced concerns about the company’s future growth prospects, especially with the patent expiration of its blockbuster drug Wegovy looming and competition from Eli Lilly intensifying.
As more than 1 million people are estimated to be using weight loss injections—90 percent of them paying privately—the stakes are high for both patients and the pharmaceutical industry. The hope is that ongoing innovation, coupled with policy changes and increased competition, will eventually make these powerful treatments more affordable and accessible to those who need them most.
For now, the race between Eli Lilly and Novo Nordisk continues, with patients, practitioners, and investors watching closely as the next chapter in obesity and diabetes treatment unfolds.