Eli Lilly’s Mounjaro moved past Merck’s Keytruda for the first time, driven by accelerating tirzepatide sales that also benefited from strong contributions within combination demand. The development adds pressure to the way investors benchmark GLP-1 and obesity leaders versus legacy oncology franchises. Novo Nordisk simultaneously cited momentum from its oral Wegovy pill launch, with guidance adjustments reflecting improved prescription trends. Together, the updates reinforce that oral formulations and market share execution are shaping near-term expectations across metabolic drugmakers. For biopharma, the competitive signaling matters beyond topline: it influences pipeline resourcing across next-generation incretin and best-in-class obesity programs.