LLY - Could Viking Therapeutics Challenge Giant Eli Lilly in the Billion-Dollar Weight-Loss Drug Market?
2024-03-13 05:03:00 ET
Viking Therapeutics (NASDAQ: VKTX) shares soared more than 120% in one trading session last month as investors bet on its ability to win in the billion-dollar weight-loss drug market -- or attract a buyer. The biotech company announced positive clinical trial results for its weight-loss candidate that works in the same way as a drug sold by pharma giant Eli Lilly (NYSE: LLY) .
Patients and investors are excited about this class of drug thanks to impressive results in clinical trials and in the real world. And demand has been so high that supply hasn't been able to keep up. This doesn't look like a short-term trend either, and according to some analyst forecasts, growth is just getting started. The global weight-loss drug market could multiply by 16 to reach $100 billion by 2030, according to Goldman Sachs Research.
It's clear that, considering market size, there's room for more than one player to succeed here. But could Viking Therapeutics carve out major market share and challenge Lilly?
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Could Viking Therapeutics Challenge Giant Eli Lilly in the Billion-Dollar Weight-Loss Drug Market?