Elon Musk took to X on Wednesday to reveal his preference for Eli Lilly’s (LLY) weight-loss drug Mounjaro over Novo Nordisk’s (NVO) Ozempic. Both drugs, generically known as tirzepatide and semaglutide, fall under the GLP-1 class of diabetes medications, which are also marketed for weight loss under names like Zepbound and Wegovy.
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Responding to a question about which product he uses, Musk said, “Technically, Mounjaro,” adding that it has “fewer side effects and seems more effective.” Musk, who previously credited Wegovy for his weight loss in 2022, shared the update while humorously posting as “Ozempic Santa” on his social media platform.
Musk’s support for GLP-1s contrasts with the stance of incoming health secretary Robert F. Kennedy Jr., who has emphasized dietary solutions over drugs to combat obesity. The differing views come as Musk also prepares to take on a government role as co-chair of Donald Trump’s Department of Government Efficiency.
Novo Nordisk Cannot Seem to Catch a Break
Novo Nordisk cannot seem to catch a break lately. The string of bad news started at the beginning of December when Eli Lilly announced study results showing that its weight-loss drug Zepbound outperformed Novo Nordisk’s Wegovy. A couple of weeks later, Denmark’s drug regulator asked the European Medicines Agency’s safety committee to investigate a possible link between Ozempic and a rare eye condition called non-arteritic anterior ischemic optic neuropathy (NAION).
Now, with a celebrity CEO like Elon Musk publicly stating that he prefers the competition due to fewer side effects, things are definitely not looking that good for the company at the moment.
Which Stock Is Better, Eli Lilly or Novo Nordisk?
Turning to Wall Street, out of the two stocks mentioned above, analysts think that NVO stock has more room to run than LLY. In fact, NVO’s price target of $114.70 per share implies more than 31% upside versus LLY’s 30.3%.
