Is Amgen a Threat to Eli Lilly in This Billion-Dollar Market?
Eli Lilly (NYSE: LLY) sells a broad portfolio of products, but two in particular have helped revenue growth explode in recent times. I'm talking about Lilly drugs that doctors prescribe for weight loss: Mounjaro and Zepbound. They're both based on the same molecule, but regulators approved the product for type 2 diabetes under the name Mounjaro and specifically for weight management under the name Zepbound.
The company won approval for Mounjaro first, back in 2022, and that drug brought in more than $1.8 billion in the most recent quarter. Zepbound, approved late last year, generated about $517 million in its first full quarter on the market. Lilly dominates the weight loss scene along with Novo Nordisk, a maker of two drugs that function in a similar manner.
But other companies aim to get in on the billion-dollar market, and just recently, big biotech (NASDAQ: AMGN) reported promising news from a clinical trial of its weight loss candidate MariTide. Does this represent a threat to Eli Lilly's drugs and its overall earnings prospects? Let's find out.
Source Fool.com
Amgen Inc. Stock
The stock is an absolute favorite of our community with 26 Buy predictions and no Sell predictions.
With a target price of 298 € there is a slightly positive potential of 1.97% for Amgen Inc. compared to the current price of 292.25 €.
