Novo Obesity Drugs Have $33 Billion Potential, JPMorgan Says

 

• Analyst boosts Novo price target by 25%, raises estimates
• Shares have soared on the success of Ozempic and Wegovy drugs

Novo Nordisk A/S can capture almost half of the rapidly growing global market for obesity drugs, equating to potential sales of around $33 billion by 2030, according to JPMorgan Chase & Co.

The Danish drugmaker — which is now Europe’s biggest company after the success of its Ozempic and Wegovy injectable drugs — will be a big beneficiary from a shift in the way that obesity and cardiovascular disease are treated, analysts led by Richard Vosser wrote in a note. They doubled their estimate for the overall obesity drug market to $71 billion in sales by 2032, and expect Novo and Eli Lilly & Co. to share the overwhelming majority of that.

https://www.bloomberg.com/news/articles/2023-09-07/novo-obesity-drugs-are-33-billion-opportunity-jpmorgan-says