MCK - This 1 Surprising New Tailwind Is Lifting These 2 Evergreen Stocks
2023-12-04 10:23:00 ET
Bigtime medical distributors like McKesson (NYSE: MCK) and Cencora (NYSE: COR) make money by moving drugs and supplies to clinics and pharmacies worldwide. While investors usually look to such companies for steady returns that are relatively safe, sometimes there's surprisingly a bit more growth than expected for an evergreen stock.
Now is one of those times. Thanks to a hot new trend in healthcare that you've doubtlessly heard of by now, both businesses are reporting stronger-than-expected sales, and they also anticipate that the good times will continue for at least a bit longer. Here's what you need to know.
What popular new medication starts with "O" and ends with "zempic"? If you guessed Ozempic, the medication made by Novo Nordisk for type 2 diabetes, you're correct. Along with the drug's other formulations called Wegovy and Rybelsus, which are indicated for helping people to lose weight, Ozempic belongs to a class of medications called GLP-1 agonists. Don't worry about what that means for now -- just appreciate that Ozempic and Wegovy brought in nearly $5 billion in sales for just the third quarter alone.
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This 1 Surprising New Tailwind Is Lifting These 2 Evergreen Stocks