What should they have done differently to prevent a competitor from entering a valuable market?

"Pricing power fell when someone else entered the market" isn't dropping a ball is why I ask.

Novo nordisk's biggest mistake was refusing to create a direct to consumer business. Eli Lilly sells most of their product through their website at large discounts, this superior distribution method is largely how they were able to gain such a large market share. Their product is also better than ozempic, so that definitely helped too. But its not like Novo Nordisk was stuck with ozempic, they couldve developed new advancements as well.

I think they meant dropped the ball on oral intake.

Most people probably prefer a pill vs injections with needles.