Drugmakers have poured small fortunes into the development of weight loss medicines in the past few years in attempts to lead this lucrative and fast-growing market. In fact, Novo Nordisk recently reported positive results for one of its anti-obesity candidates that puts its current best-selling drug in this area,

The Danish pharmaceutical company’s blockbuster Wegovy weight-loss drug just missed sales expectations in the fourth quarter despite more than doubling on the year.

Novo Nordisk emissions grew 23% in 2024, the company said on Wednesday, and will keep rising through the end of the decade as it boosts production of blockbuster obesity drug Wegovy. The company is spending billions to ramp up its Wegovy output as demand soars.