LLY - Eli Lilly's Wegovy Competitor Is Causing Supply Constraints: What It Means for the Stock
2024-04-06 08:30:00 ET
The battle for leadership in the anti-obesity drug market is heating up. Eli Lilly (NYSE: LLY) and Novo Nordisk are the two undisputed frontrunners, but many other drugmakers are looking to challenge the status quo. Novo Nordisk's Wegovy, first approved in the U.S. in 2021, has been growing its sales rapidly.
However, Eli Lilly launched a competing product, Zepbound, late last year. Analysts have incredibly high hopes for Zepbound, and the medicine has so far lived up to the hype. Let's see what this could mean for investors.
Weight-loss therapies of the GLP-1 class Eli Lilly belongs to have soared in popularity in recent years. This momentum is set to continue for the foreseeable future. Some analysts have predicted that the market could be worth about $44 billion by 2030, up from $2.5 billion in 2022.
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Eli Lilly's Wegovy Competitor Is Causing Supply Constraints: What It Means for the Stock