NVO - Weight Loss Drug Market To Rocket To $130B By 2030 With Eli Lilly Novo Nordisk In Lead: Goldman Sachs | Benzinga
Goldman Sachs analysts re-rated Eli Lilly And Co (NYSE:LLY) and Novo Nordisk A/S (NYSE:NVO), citing the potential for their weight-loss drugs.
The firm expects the global sales of weight-loss drugs to reach $130 billion by 2030, an increase from their prior $100 billion forecast.
Analyst Chris Shibutani maintained a Neutral rating on Eli Lilly with a price target of $785, up from $740.
Shibutani forecasts revenues for the company’s AOM portfolio (including the currently commercialized tirzepatide products Monjouro and Zepbound) in 2024 to $5.3 billion (up from the prior $4.7 billion), 2027 to $27.6 billion (versus the previous $28.2 billion), and 2030 to $56.6 billion (versus the earlier $49.7 billion).
Based on BMI criteria, the analyst continues to see the potential for approximately 110 million people in the U.S. to be eligible for AOM.
According to Shibutani, the combined leading commercial players, Eli Lilly and Novo Nordisk, will likely sustain their dominant share and market leadership.
The analyst ...