Novo Nordisk is set to benefit from a $150B market by 2030, with strong earnings potential and a favorable 14x forward P/E. Read why NVO stock is a hold.

The implications for Eli Lilly and Novo Nordisk seem pretty clear: The immediate removal of a rival for the massive revenues they've been raking in from the GLP-1 market, which helped lift Lilly past $45 billion in total revenue last year, and pushed Novo past $44 billion.

Eli Lilly said its new weight-loss pill had cleared a late-stage clinical trial, a promising sign as the company continues to face off with Ozempic maker Novo Nordisk. Eli Lilly said in a news release that its orforglipron pill had passed a Phase 3 trial with “statistically significant efficacy results” and a safety profile consistent with injectable obesity drugs that already are on the market.