Investment Trends - Billionaire investor Philippe Laffont of Coatue Management manages a fund worth 26.9billionasofSeptember,withafocusontechandhealthcarestocks[2]−CoatueManagementsignificantlyreduceditsstakeinNvidiaby2639 million and raised its stake in Eli Lilly by 20% to 220millionduringthethirdquarter[5]NovoNordisk−NovoNordisk′sweightmanagementdrugWegovyreducedpatients′weightby12.419.8 billion in the first nine months of 2024 [13] - Novo Nordisk's CagriSema completed a phase 3 trial and could earn FDA approval in 2025 [16] - Despite recent stock price declines, Novo Nordisk trades at 27.9 times forward-looking earnings expectations, supported by strong demand for its GLP-1 drugs [17] Eli Lilly - Eli Lilly's tirzepatide, approved for diabetes under the brand name Mounjaro in 2022 and for obesity as Zepbound in 2023, reduced patients' weight by a placebo-adjusted 17.8% after 72 weeks in trials [8][14] - The company is testing retatrutide, a GLP-1/GIP agonist that also acts on glucagon receptors, which showed a placebo-adjusted weight reduction of 22.1% after 48 weeks in a phase 2 trial [9] - Retatrutide's phase 3 study began in May 2023 and is expected to conclude in January 2026 [10] - Tirzepatide sales exceeded 11billioninthefirstninemonthsof2024,despitebeingonthemarketforonlytwoyears[18]−EliLilly′sstocktradesatabout60timesforward−lookingearningsestimates,makingitvulnerabletoanysetbacksintirzepatideorretatrutidedevelopment[20]MarketOutlook−Theanti−obesitydrugmarketisprojectedtogrowfrom6 billion in 2023 to $105 billion by 2030 [11] - The GLP-1 drug market is expected to remain highly competitive between Novo Nordisk and Eli Lilly, with tirzepatide likely to overtake semaglutide in the next year or two [16]
Lilly(LLY) The Motley Fool·2024-12-29 10:39