Consolidating at around $768, Eli Lilly (LLY) is still attractive.
All thanks to surging obesity drug sales, and on news JP Morgan just reiterated an overweight rating on the stock heading into earnings on April 30.
“LLY remains one of our favorite names in the group as we see further upside to Street estimates as Mounjaro continues to ramp and Zepbound fully launches as well as a number of additional incretin datapoints ahead,” said the firm, as quoted by CNBC.
We also have to consider the obesity drug market could be substantial.
According to Goldman Sachs, for example, the market could balloon to $100 billion by 2030.
Obesity is bursting at the seams, globally.
In fact, according to the World Health Organization, obesity has tripled since 1975. More than 1.9 billion adults were overweight, as of 2016, with more than 650 million considered obese. Plus, more than 340 million children were considered overweight in 2016, as well. It’s an issue that’s been plaguing society for quite some time. Worse, by 2030, about 20% of the global population will be obese, according to the National Centers for Biotechnology Information.
