Yahoo Finance published this video item, entitled “Weight loss drug hype: It’s different this time, analyst says” – below is their description.
Novo Nordisk (NVO), the company behind the popular diabetes and weight-loss drugs Ozempic and Wegovy is Yahoo Finance’s 2023 Company of the Year. It’s not, however, the only drugmaker to be making a splash in the weight-loss drug space. Eli Lilly (LLY) has its own medicines, Mounjaro and Zepbound, the latter which just recently became available at US pharmacies. Even though drugmakers have been working on weight-loss drugs for years, “it really does feel like this time it’s different for obesity drugs,” Morningstar Director of Equity Strategy Damien Conover tells Yahoo Finance. Conover says Novo and Lilly will “dominate” the obesity drug market over the next couple of years, though there will eventually be more competition that will force prices lower.
ThirdBridge Global Sector Lead for Healthcare Lee Brown argues that eventually “it’s going to be harder and harder for payers to push back” against paying for these drugs given the longer-term benefits they can provide.
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