Just when the weight-loss drug market was heating up, the temperature rose even more. Eli Lilly (NYSE: LLY) is already giving Novo Nordisk (NYSE: NVO) a run for its money with the approval in the fourth quarter of 2023 of Zepbound. Now another rival could be on the way.

Viking Therapeutics (NASDAQ: VKTX) announced results last week from a phase 2 clinical study of VK2735 in helping patients lose weight. Its share price promptly skyrocketed more than 130%. Is Viking Therapeutics stock a better buy than Eli Lilly or Novo Nordisk after its latest weight-loss drug news?

Some Wall Street analysts project that the market for weight loss drugs could reach or even top $100 billion by 2030. This expectation has helped fuel massive gains for Lilly and Novo Nordisk. Both pharma stocks are up more than 250% over the last three years.

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Source Fool.com