NVO - Prediction: These Could Be the Best-Performing Pharmaceutical Stocks Through 2030
2024-06-02 09:30:00 ET
The pharmaceutical industry isn't the first place investors turn to when looking for high-growth stocks. However, some companies in the field look so promising that they could deliver well-above-average returns through the end of the decade.
There are several candidates here, but two of the most attractive today are Eli Lilly (NYSE: LLY) and Novo Nordisk (NYSE: NVO) . Read on to find out why these two giants could be the best performers in the industry through 2030.
Eli Lilly and Novo Nordisk are rivals in the drug market for diabetes treatment, a competition that spans many decades. Over the years, the two players have continued to innovate, and the pharmaceutical giants are still at it. One of Eli Lilly's newer diabetes medicines is Mounjaro, first approved in the U.S. in May 2022. Mounjaro is a therapy with a novel mechanism of action that generated an $5 billion in sales last year, its first full year on the market.
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Prediction: These Could Be the Best-Performing Pharmaceutical Stocks Through 2030