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America’s Weight-Loss Drug Boom Is Going Global

The weight-loss drug boom that began as a U.S. phenomenon is rapidly becoming a global growth story. Investors have spent much of the past year obsessing over American prescriptions, especially the launch of GLP-1 pills that could broaden access to obesity treatments. But the bigger opportunity may be unfolding overseas, where demand for these medicines is accelerating. Novo Nordisk’s international obesity-drug sales rose 44% in the first quarter of 2026, compared with 9% growth in the U.S., while Eli Lilly said international sales of Mounjaro reached $4.4 billion, nearly four times the level of the prior year.

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