These were the best-selling GLP-1 drugs last quarter from Eli Lilly and Novo Nordisk

The anti-obesity drug market could one day be worth $100 billion. It’s a huge opportunity in healthcare and two companies that are leading the way in this space today are Eli Lilly (LLY 0.23%) and Novo Nordisk (NGO 1.42%). Unsurprisingly, they are also two of the most valuable healthcare companies in the world right now.

They’ve been rivals for decades, and the growing popularity of their respective glucagon-like peptide 1 (GLP-1) drugs ensures that the competition between these two companies won’t die down anytime soon. With their latest quarterly results, let’s take a closer look at how their GLP-1 products are doing and which could be on top going forward.

Ozempic remains firmly ahead of the competition

The name “Ozempic” has become synonymous with weight loss, even though the drug is technically approved for diabetes. It saw significant growth and in the last quarter (which ended in June), it was by far Novo Nordisk’s best-selling drug. Here’s how its sales compared to weight loss drug Wegovy, which shares the same active ingredient (semaglutide), and Eli Lilly’s top GLP-1 drugs — Mounjaro (approved for diabetes) and Zepbound (approved for weight loss} :

Source: company files.

Currently, Ozempic remains at the top of the other GLP-1 drugs on this list, but the drug has been available for longer. As the other drugs on this list become more prominent in the healthcare industry, it may only be a matter of time before they quickly move up this list and Ozempic moves down.

Why Eli Lilly Could End Up With the First Two GLP-1 Drugs

Novo Nordisk holds the early lead in the GLP-1 market, but Eli Lilly could overtake it within the next year. Its drugs appear to be well tolerated by patients and are comparable in terms of side effects to Novo Nordisk’s GLP-1 options. The difference between the drugs the patients take could come down to potential weight loss benefits.

In clinical trials, tirzepatide, the active ingredient in both Zepbound and Mounjaro, showed that it could help people lose nearly 27% of their body weight after a period of 84 weeks. With semaglutide, which is active in Wegovy and Ozempic, the average weight loss was less and about 15% over a period of 68 weeks.

Given the higher weight loss numbers and the impressive growth in Mounjaro, I would expect to see both of Eli Lilly’s drugs eventually overtake Ozempic as the company launches its products in more markets and expands production capacity.

Is Eli Lilly the better healthcare stock to buy than Novo Nordisk?

Eli Lilly may end up having the best weight loss drugs in the near future, but both companies are still working on more drugs, including diet pills, that could end up being their most successful products in the long run.

Ultimately, I don’t think you can go wrong investing in either company; with such massive weight loss opportunities, both actions can be good options. The decision may simply come down to your preference if you want to go with a more diversified healthcare company in Eli Lilly or if you want more of a diabetes and weight loss stock in Novo Nordisk. The latter also comes with a lower valuation, giving investors a better margin of safety.

But instead of trying to pick a winner, you may want to consider adding both stocks to your portfolio, as they are two of the best healthcare stocks you can own right now.