three injection pens of weight loss drug Wegovy

Novo Nordisk generated $33 billion in gross sales in 2023.
Picture: Employees (Reuters)

Hovering demand for blockbuster weight reduction medicine might end in two pharmaceutical firms turning into the primary well being care firms to achieve a market capitalization of over $1 trillion.

Norway’s Novo Nordisk and US-based Eli Lilly are inching their means nearer to the benchmark that to this point solely a handful of firms have been capable of attain. As of immediately, Novo Nordisk’s market cap stands at $508 billion, whereas Eli Lilly’s sits larger at $623 billion.

Solely six firms on this planet presently have a market cap over $1 trillion, together with Apple at $2.69 trillion and Microsoft at $2.8 trillion. The opposite firms on this unique membership are Saudi Aramco, Alphabet, Amazon and Nvidia.

“Maybe sooner or later we’ll be speaking about Eli Lilly and Novo Nordisk because the world’s first trillion-dollar well being care firms,” mentioned Gemma Recreation, head of well being care sector technique for Norway’s sovereign wealth fund, at a press conference on Tuesday (Jan. 30).

She added that only one% of the billion individuals residing with weight problems have been handled to this point and that these new weight reduction medicine are early on of their trajectory.

Each Novo Nordisk and Eli Lilly noticed their inventory worth climb by greater than 50% in 2023. That is explosive development is primarily attributable to curiosity within the firms’ new class of weight reduction generally known as glp-1 agonists. These medicine, initially authorized by the FDA for treating diabetes, have been proven to assist customers lose as much as 26% of their weight in a single 12 months.

Novo Nordisk, the maker of Ozempic and Wegovy, reported on Wednesday (Jan. 31) that its gross sales in 2023 jumped 31% to 232.3 billion Danish kroner ($33.8 billion) in contrast with 177 billion Danish kroner ($25 billion) in 2022.

The US alone, the place over 40% of the adult population is obese, accounted for 45% of those gross sales. Novo Nordisk has continued to wrestle to maintain up with demand and as of January continues to be restricting starter doses of Wegovy. The corporate tasks that its gross sales will improve by as much as 26% in 2024.

Eli Lilly, which launched its weight reduction drug Zepbound in December, will report its fourth quarter outcomes on Feb. 6.


Source link

Leave a Reply

Your email address will not be published. Required fields are marked *