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
Packets of Wegovy at the Novo Nordisk A/S production facilities in Hillerod, Denmark.
Photographer: Carsten Snejbjerg/BloombergThis article is for subscribers only.
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.