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Eli Lilly’s portfolio includes orforglipron, an oral medication, tirzepatide, an injectable drug, and retatrutide, a next-generation treatment. The company’s strategic investments in manufacturing and planning for branded rollouts are anticipated to solidify its position in the market.
The report also underscored the significant potential for growth in the obesity drug market both domestically and internationally. Analysts forecast that global sales for these drugs will reach an impressive $100 billion by 2035.
Despite recent downturns in shares of leading companies in the obesity drug market, Eli Lilly’s shares demonstrated resilience. On Friday morning trading, shares were up 0.5%, marking a 50% increase since the start of the year. Novo Nordisk has also experienced substantial growth with its shares up 1% in premarket trading and a total increase of 35% year-to-date.
BMO Capital Markets analysts maintain an “outperform” rating on Eli Lilly’s shares and set a target price at $633. This prediction comes amidst ongoing market fluctuations and emphasizes the analysts’ confidence in Eli Lilly’s potential dominance in the obesity drug sector.
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