Novo Nordisk’s GLP-1s outsell Eli Lilly’s thanks to its superior marketing. Here’s how.
In a market driven by innovation, it’s counterintuitive to see a company with a less effective product outperform its competitors—unless, of course, the answer lies in marketing.
Novo Nordisk’s Ozempic and Wegovy continue to outpace Eli Lilly’s Mounjaro and Zepbound, even though the latter are demonstrably more effective in clinical trials. The most recent earnings reports highlight this stark contrast: Novo reported $2.54 billion in sales last quarter for its blockbuster weight-loss drug Wegovy, significantly exceeding analysts’ estimates of $2.21 billion. In contrast, Eli Lilly’s Zepbound fell short, generating $1.26 billion in sales compared to the $1.69 billion analysts had expected.
Lilly attributed its earnings miss to high manufacturing costs and fluctuating inventory levels amid surging demand for its anti-obesity treatments. But Novo faces similar challenges, and despite grappling with supply constraints and production capacity issues, it not only met but exceeded sales expectations. Novo’s edge is clear: it has mastered the art of making its products unforgettable.
As marketing consultants at the New England Consulting Group, we have a deep history in the weight-loss space and advise clients in the consumer weight-loss category. We’ve seen one truth emerge repeatedly over decades: the best product doesn’t always win; rather, it’s the best-marketed one that often dominates.
Marketing Over Metrics
One critical factor shaping Novo’s dominance is the interplay between DTC advertising and physician prescribing behavior. While prescribing decisions are rarely driven by advertising alone, DTC campaigns like “Oh, Oh, Oh, Ozempic!” are designed to resonate with consumers, and they influence the conversations patients have with their healthcare providers. For instance, a patient who has seen Ozempic advertisements may request the drug by name. Since Ozempic is primarily indicated for diabetes, physicians often pivot to prescribing Wegovy—which has the same active ingredient, semaglutide, and is approved for weight loss. In this way, DTC advertising can act as a catalyst for dialogue, introducing brand familiarity and sparking patient interest, while clinical judgment ultimately guides the final decision.
From a clinical standpoint, Lilly should be leading the GLP-1 category. The company recently released results from the SURMOUNT-5 trial, which demonstrated that tirzepatide, marketed as Mounjaro for diabetes and Zepbound for weight loss, outperforms Novo’s Ozempic and Wegovy. Patients on tirzepatide lost an average of 20.2% of their body weight after 72 weeks, compared to 13.7% on a semaglutide product.
Similarly, in diabetes, tirzepatide has shown superior efficacy in reducing A1C levels, a measure of average blood sugar over three months. In the Phase 3 SURPASS-2 study, Mounjaro reduced A1C by 2% to 2.3% across its doses, compared to a 1.9% reduction for semaglutide at its 1 mg dose. A subsequent meta-analysis further reinforced these findings, showing that all doses of tirzepatide lowered A1C more effectively than semaglutide, with the highest dose of tirzepatide reducing A1C by 2% compared to 1.62% for semaglutide at its highest dose.
Some argue that Novo’s success stems from being a first mover in the GLP-1 market. However, this overlooks the history of earlier GLP-1 receptor agonists like Byetta and Bydureon, which were approved in 2005 and 2012, respectively—years before Novo introduced Ozempic. While these drugs were originally approved for diabetes management, they also demonstrated significant weight loss. Novo itself entered the weight management space in 2014 with Saxenda, a GLP-1 drug that led to an average loss of 9.2% of initial body weight. In other words, the success of Ozempic and Wegovy lies not in their timing but in Novo’s ability to elevate these products through a sophisticated and consistent marketing strategy.
Consider this: If you’ve seen a pharmaceutical ad recently, chances are you can hum along to the chorus of “Oh, Oh, Oh, Ozempic!” or recall the empowering imagery in the Wegovy “Discover the Power” campaign, featuring a reimagined version of The Greatest Showman’s “This Is Me.” These ads don’t just inform—they create emotional connections that stick. With nearly two billion ad impressions in June 2024 alone and an estimated $42 million media spend for Wegovy’s latest campaign, Novo’s advertising strategy is built to dominate both attention and consumer mindshare.
Novo’s ads consistently celebrate personal transformation, embedding the brand into cultural conversations and making its products feel relatable and empowering. For many consumers, Novo’s brands are synonymous with GLP-1s or with weight loss drugs more broadly, a testament to the power of marketing that connects emotionally with its audience.
By contrast, while Lilly has made strides with its advertising, such as its Oscars “Big Night” ad for Mounjaro addressing accessibility and stigma, these efforts have been more sporadic. Additionally, the Oscars campaign dissuaded a large percentage of potential users (“vanity” users as Lilly calls them) from using the drug, saying, “some people have been using medicine never meant for them. For the smaller dress or tux, for a big night, for vanity.” The impact of Lilly’s messaging hasn’t matched the cultural resonance of Novo’s campaigns. As a result, names like Ozempic and Wegovy are far more entrenched in public consciousness than Mounjaro and Zepbound.
Striking the Right Tone
While marketing has been pivotal, Novo’s success isn’t just about storytelling—it’s about execution.
Consider the “Shame” ads that Lilly has run this year, tackling serious themes like the societal perceptions around weight loss. While well-intentioned, the ads were dark and somber, emphasizing challenges like stigma and the complex emotions tied to dieting. They highlighted everything consumers might dread about starting a weight loss journey, inadvertently creating a negative association with the brand.
In contrast, Novo’s ads for Wegovy and Ozempic were upbeat, aspirational and rooted in personal transformation. With empowering music, relatable characters and an emphasis on hope, Novo painted a picture of possibility. The ads didn’t dwell on the struggles of dieting; instead, they invited consumers to see the outcome: a healthier, more confident version of themselves.
Both Novo and Lilly created exceptionally effective drugs, but only Novo has managed to translate that into an inviting and memorable brand experience. Ads that resonate emotionally and inspire action are far more effective than those that unintentionally amplify the difficulties of the journey.
Furthermore, Novo’s proactive investment in manufacturing capacity ensured that it maintained trust with prescribers and patients. The company’s ability to deliver on its promises—both in product availability and brand consistency—has further solidified its position in the market.
Lessons for the Industry
The Novo vs. Lilly dynamic highlights an essential truth: Marketing isn’t merely a complement to innovation but a critical driver of commercial success. Companies that focus exclusively on clinical data risk being outperformed by competitors who know how to connect with consumers on a deeper level.
Lilly’s position underscores the importance of consistent and pervasive marketing. While its products are demonstrably more effective, its messaging hasn’t resonated as broadly. Even well-received campaigns, such as the Mounjaro Oscars ad, haven’t been enough to close the gap left by Novo’s relentless focus on cultural relevance and emotional storytelling. Novo’s success is a case study in how strategic, memorable marketing—paired with strong execution—can elevate a brand above even clinically superior competitors.
The challenge is clear: Make sure your marketing is as effective as your product, or risk remaining in the shadows of a competitor with a catchier tune.
