Eli Lilly reported results and guidance that outpaced Wall Street expectations, driven by fast-selling GLP-1 medicines, while rival Novo Nordisk issued a downbeat 2026 sales outlook that sent its shares sharply lower. Lilly’s performance reinforced investor confidence in its obesity and diabetes franchise and broader growth targets, whereas Novo cited pricing and competitive pressures that could compress near-term revenue. The juxtaposition highlights how U.S. pricing moves and oral formulation launches are reshaping competitive dynamics in the obesity market. Market reactions emphasize the sensitivity of valuations to launch trajectories and regulatory or policy actions affecting affordability.