NVO - Prediction: Eli Lilly and Novo Nordisk Stock Could Just be Getting Started. Here's Why
2024-03-05 09:53:00 ET
Two of the biggest names in the pharmaceutical industry right now are Eli Lilly (NYSE: LLY) and Novo Nordisk (NYSE: NVO) . Each company is at the forefront of the red-hot weight-loss market due to their innovative roster of diabetes medications.
Both companies develop glucagon-like peptide-1 (GLP-1) drugs, including Mounjaro, Ozempic, and Rybelsus. While these blockbuster drugs are not formally approved for chronic weight management by the Food and Drug Administration (FDA), losing weight can often be a byproduct. As such, demand for these diabetes treatments has been rocketing off the charts.
Despite returns of over 50% from each stock in 2023, data suggests that the ride could just be getting started for investors.
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Prediction: Eli Lilly and Novo Nordisk Stock Could Just be Getting Started. Here's Why