Eli Lilly shares fell approximately 2% on March 2, 2026. The decline followed reports that rival Novo Nordisk is investing over $500 million to expand manufacturing capacity for its Wegovy pill.
The Danish drugmaker will utilize the investment to increase production at an Irish facility. This strategic move aims to secure market share for oral obesity treatments ahead of Eli Lilly’s anticipated pill launch later this year.
The investment intensifies competition within the lucrative GLP-1 drug sector. This expansion places direct pressure on Eli Lilly as it prepares its own product for market entry.