Eli Lilly & Co. is asking people who took copies of its blockbuster weight loss drug to give the company access to their medical records as it continues to build a case against businesses selling the compounded drugs.

Novo Nordisk and Eli Lilly are offering discounts to encourage more insurance coverage of the medicines, which carry price tags of over $1,000 a month.

As weight-loss treatments dominate the pharmaceutical market, Swiss drugmaker Novartis AG (SWX: NOVN) is choosing a different path. While competitors like Eli Lilly and Novo Nordisk race to capture the booming weight-loss drug market,

Eli Lilly's experimental next generation weight-loss drug mimics three hormones instead of just one or two and continues to show promising clinical trial results for additional health benefits, the company said.

As Eli Lilly and Novo Nordisk continue to dominate the lucrative weight-loss drug market, smaller competitors are gearing up to release their own treatments, aiming to challenge the two industry leaders.

Eli Lilly & Co. is asking people who took copies of its blockbuster weight loss drug to give the company access to their medical records for safety reasons, a move that comes as it builds a case against businesses selling the compounded drugs.

Swiss pharmaceutical giant Novartis said Wednesday that it does not plan to enter into the "frenzy" of weight loss drugs.

The weight-loss market is heating up as a number of companies are looking for a way to upend the dominance of market leaders Novo Nordisk and Eli Lilly by introducing GLP-1 pills.