Mounjaro outpaced Ozempic as Australia’s top-selling drug in 2025, boosting Eli Lilly and pressuring Novo Nordisk.

Eli Lilly’s Mounjaro surpassed Ozempic as Australia’s top-selling prescription drug in 2025, driven by its dual-receptor design offering stronger weight loss results. This shift pressured Novo Nordisk, leading to a 13% projected sales decline in 2026 and a 15% stock drop. While Novo’s Wegovy pill is available in the U.S., it remains unapproved in Australia, where online clinics increasingly prescribe Mounjaro. Demand for Eli Lilly’s upcoming triple agonist retatrutide is fueling a market for unregulated Chinese knock-offs, raising health risks. Oral medications are gaining favor, and Novo is working to bring its pill to Australia, though no timeline is set.