Here's 1 Pharmaceutical Stock That Looks Unstoppable. Hint: It's Not Novo Nordisk.
Diabetes and obesity medications are becoming wildly popular. Commercials for them dominate the airwaves on a daily basis -- many produced by Novo Nordisk. This Danish pharmaceutical giant is the developer of glucagon-like peptide-1 (GLP-1) agonists Ozempic, Rybelsus, Wegovy. The success of these drugs has helped Novo Nordisk acquire a nearly 55% share of the GLP-1 market.
But one of Novo Nordisk's fiercest competitors, Eli Lilly (NYSE: LLY), is making notable progress of its own among diabetes and obesity patients. In addition, Lilly has an impressive portfolio that boasts treatments for cancer, plaque psoriasis, psoriatic arthritis, and more. Let's take a look at the catalysts that could fuel long-term growth for Lilly, and assess if now is a good time to buy the stock.
Eli Lilly's primary diabetes and obesity treatments include Mounjaro, Jardiance, and Zepbound. Mounjaro was approved to treat diabetes in mid-2022, while Zepbound only received clearance from the Food and Drug Administration (FDA) to treat chronic weight management back in November. Nevertheless, these three medications combined for 24% of Lilly's total sales in 2023.
Source Fool.com
