Novo Nordisk (NVO) Stock Fights Back Against Eli Lilly with Ireland Move

TLDR

• Novo Nordisk plans to manufacture Wegovy weight loss pills at its Ireland facility for global markets outside the US
• Over 240,000 Americans started using the pill version since its January launch, with 38,220 prescriptions in week five
• CEO Mike Doustdar called it “one of the most successful pharmaceutical debuts ever” as company battles Eli Lilly
• The Athlone plant expansion follows an €85 million acquisition from Alkermes in 2024
• Novo warned of potential 13% sales decline this year due to pricing pressure from Trump administration

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Novo Nordisk will expand its Athlone, Ireland manufacturing facility to produce Wegovy weight loss pills for international markets. The announcement comes as the Danish pharmaceutical company works to recapture market dominance from rival Eli Lilly.

Novo Nordisk A/S, NVO

CEO Mike Doustdar revealed that more than 240,000 Americans have started taking the pill version since its early January launch. IQVIA data showed prescriptions reached 38,220 in the fifth week alone.

The Athlone facility will produce pills exclusively for markets outside the United States. Novo manufactures the American supply domestically.

Record-Breaking Launch Performance

Novo acquired the Athlone plant from Alkermes for €85 million in 2024. The site previously operated as Elan Drug Technologies.

The company abandoned plans for a Dublin-area factory two years ago. The renewed Irish investment signals confidence in the weight loss drug market.

Last September, Novo cut up to 75 jobs at the 400-person Athlone facility. The reduction was part of 9,000 global layoffs.

Competition Heats Up

Novo faces intense competition from Eli Lilly’s Zepbound weight loss drug. The Danish company once dominated the obesity medication market but has lost ground to its American competitor.

Last week, Novo warned investors of a potential 13% sales decline for 2026. The forecast triggered a 20% drop in share price.

Pricing pressure from the Trump administration has sparked a fierce price war. Novo priced Wegovy pills at $149 per prescription.

U.S. company Hims & Hers Health announced plans to sell a competing version for $49. The Food and Drug Administration subsequently warned the company to halt sales.

Manufacturing Strategy

Novo recently announced it would offer Wegovy in vial form alongside pills and injectables. The move matches Lilly’s product lineup strategy.

Ireland serves as a major pharmaceutical manufacturing hub. Eli Lilly produces active ingredients for its weight loss medications in the country.

Doustdar declined to disclose the investment amount for the Athlone expansion. The facility will focus on serving European and other international markets.

The strong prescription numbers suggest growing consumer acceptance of oral weight loss medications. Novo continues to ramp up production capacity to meet rising demand.

Ireland’s pharmaceutical sector benefits from the country’s established supply chains and skilled workforce. The State’s economy depends heavily on U.S. pharmaceutical investment.

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