Eli Lilly Just Announced Game-Changing News

Over time, Eli Lilly (NYSE:LLY) has built a solid portfolio of drugs across treatment areas, and that has resulted in earnings growth. But in recent years, one particular type of drug has supercharged revenue. This market is heading toward a value of almost $100 billion by 2030. I'm talking about the area of weight loss drugs, and particularly in the GLP-1 category.

Lilly makes tirzepatide, which is sold for type 2 diabetes under the name Mounjaro and for weight loss under the name Zepbound.Both are injectable products. The pharma giant also recently gained approval for its first oral weight loss drug, Foundayo.

Lilly dominates the weight loss drug market, but it still faces competition from the original market leader, Novo Nordisk, maker of Ozempic and Wegovy. The two companies are vying for leadership in the next wave of GLP-1 growth -- this is as Medicare coverage of the drugs begins and as oral weight loss drugs gain momentum.

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