NVO - Is Madrigal Pharmaceuticals Stock a Better Buy Than Eli Lilly and Novo Nordisk After Its Huge FDA Win?
2024-03-19 05:50:00 ET
Every huge drugmaker was once a much smaller drugmaker. We don't even have to go back too many years to see where Eli Lilly (NYSE: LLY) and Novo Nordisk (NYSE: NVO) , currently the two biggest pharma companies on the planet, were only a fraction of their current sizes.
The main way small drugmakers become large is by launching successful new products. Madrigal Pharmaceuticals (NASDAQ: MDGL) should soon have its first taste of such success with the U.S. Food and Drug Administration (FDA) approving Rezdiffra for treating nonalcoholic steatohepatitis (NASH) last week. Is Madrigal stock a better buy than Eli Lilly and Novo Nordisk after its huge FDA win?
The recent FDA approval for Madrigal is the first regulatory victory for the company. Madrigal founder Becky Taub began working with a small group of scientists more than 15 years ago to develop a treatment for NASH. Taub, who still serves as the company's Chief Medical Officer and president of research and development, said after the FDA announcement that she believes Rezdiffra "will change the treatment paradigm for NASH." She could be right.
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Is Madrigal Pharmaceuticals Stock a Better Buy Than Eli Lilly and Novo Nordisk After Its Huge FDA Win?