During the first half of 2025, the financial reports of multinational pharmaceutical giants underscored three pivotal areas: GLP-1-based weight loss medications, cancer immunotherapy, and the patent cliff phenomenon. Companies like Lilly and Novo Nordisk experienced significant revenue growth, attributed to their robust performance in the GLP-1 weight loss drug segment. In contrast, Merck & Co. and Bristol-Myers Squibb witnessed sales declines, primarily due to sluggish growth in established products, changes in medical insurance policies, and the impact of the patent cliff.
