摘要

礼来在减肥药领域的竞争中正超越诺和诺德，凭借更优的疗效、更具竞争力的价格及高效的执行力。尽管Zepbound比Wegovy晚两年上市，但礼来的双激素药物实现了20%的平均减重效果，远超Wegovy的14%，预计2025年初将占据美国市场60%的处方量。生产规模的迅速扩大及每月1000美元的定价（Wegovy为1350美元）进一步巩固了其市场地位。此外，礼来在下一代口服减肥药研发中也处于领先，其便捷且成本较低的orforglipron有望2024年获批。相比之下，诺和诺德面临挑战：其口服药物使用不便，CagriSema的试验结果未能达到投资者预期。尽管两家公司均需应对美国的关税政策及价格管制，分析师仍预测，到2030年礼来将在规模超900亿美元的市场中占据47%的份额，领先于诺和的40%。尽管市场竞争日趋激烈，但两家巨头的垄断地位短期内难以撼动。

Eli Lilly is outpacing Novo Nordisk in the obesity-drug race, leveraging superior efficacy, pricing, and execution. Despite launching Zepbound two years after Novo’s Wegovy, Lilly’s dual-hormone drug demonstrated 20% average weight loss vs. Wegovy’s 14%, capturing 60% of U.S. prescriptions by early 2025. Faster production scaling and a 1,000 monthly price(vs. Wegovy’s 1,000 monthly price(vs.Wegovy’s1,350) strengthened its edge. Lilly also leads in next-gen oral treatments, with its convenient, low-cost orforglipron poised for 2024 approval. Novo faces setbacks: its rival pill is cumbersome, and CagriSema trials disappointed investors. Both firms grapple with U.S. tariff risks and price regulation, but analysts project Lilly to dominate a $90bn+ market by 2030 (47% share vs. Novo’s 40%). While competition intensifies, the duopoly remains entrenched.