Novo Nordisk's Diabetes and Obesity Market Dominance and Pipeline Innovation Support a Wide Moat

As a pioneer in diabetes care, Novo has been in the business for over 85 years and claims 32% of the $50 billion-plus diabetes treatment market and roughly half of the more than $15 billion insulin market. Diabetes' prevalence is expected to soar in coming decades as a result of an increasingly overweight and aging population, and we expect Novo to maintain its wide moat as it continues to dominate in diabetes and obesity therapy innovation.