(https://www.marketwatch.com/story/how-ozempic-maker-novo-nordisk-blew-its-lead-in-glp-1-weight-loss-drugs-can-europe-compete-in-the-high-stakes-global-economy-0a2bcfd0?mod=mw_rss_topstories) to Eli Lilly because Lilly executed better on supply *and* pricing power — but here's what Wall Street's missing: once Lilly proves the category can sustain dual competition, generic-adjacent biosimilars crater both players' gross margins simultaneously.

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