The obesity drugs that powered huge investor gains in 2023 are poised to inspire more corporate dealmaking, scientific breakthroughs and better patient access in the year ahead, analysts say. Eli Lilly & Co.
LLY,
-0.48%
and Novo Nordisk
NVO,
+2.71%,
the dueling pharmaceutical giants currently dominating the obesity-drug race, will likely rack up more wins in 2024 as they seek to stay ahead of a growing pack of contenders. But there’s still plenty of room for more players in this niche, analysts say, as companies develop pill versions of the popular GLP-1 drugs as well as new drug candidates that promote weight loss while preserving lean muscle.
Key clinical-trial data emerging over the next year “will really start to dictate who will be the competitors against Lilly and Novo,” said Damien Conover, director of healthcare research at Morningstar. While new, next-generation obesity drugs aren’t likely to hit the market in 2024, fascination with these medications isn’t about to fizzle out, with some analysts projecting the market could grow to $100 billion over the next five to seven years. But with Novo and Lilly shares up more than 50% this year, investors are looking for the up-and-comers in the fast-growing market. The spotlight on the powerful new drugs and their broader health benefits, meanwhile, should help spur expanded insurance coverage of the medicines and bett …
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LLY,
-0.48%
and Novo Nordisk
NVO,
+2.71%,
the dueling pharmaceutical giants currently dominating the obesity-drug race, will likely rack up more wins in 2024 as they seek to stay ahead of a growing pack of contenders. But there’s still plenty of room for more players in this niche, analysts say, as companies develop pill versions of the popular GLP-1 drugs as well as new drug candidates that promote weight loss while preserving lean muscle.
Key clinical-trial data emerging over the next year “will really start to dictate who will be the competitors against Lilly and Novo,” said Damien Conover, director of healthcare research at Morningstar. While new, next-generation obesity drugs aren’t likely to hit the market in 2024, fascination with these medications isn’t about to fizzle out, with some analysts projecting the market could grow to $100 billion over the next five to seven years. But with Novo and Lilly shares up more than 50% this year, investors are looking for the up-and-comers in the fast-growing market. The spotlight on the powerful new drugs and their broader health benefits, meanwhile, should help spur expanded insurance coverage of the medicines and bett …nnDiscussion:nn” ai_name=”RocketNews AI: ” start_sentence=”Can I tell you more about this article?” text_input_placeholder=”Type ‘Yes'”]