Novo Nordisk’s 52-week lows at $67 reflect fears of Lilly stealing market share, but Novo’s lower P/E (20x vs. Lilly’s 50x) and strong Ozempic sales suggest it’s undervalued. Lilly’s high valuation and supply chain bottlenecks, limiting Mounjaro production to 8 million doses in 2024, could cap growth, with a potential 10-15% correction if demand outpaces supply.
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