Weight-Loss Drug Market Can Hit $100 Billion, J.P. Morgan Says. That Makes Eli Lilly Stock a Big Winner.

Eli Lilly could reach $50 billion in annual sales from weight-loss drugs by 2030, making the pharmaceutical company one of the big winners from obesity treatments, J.P. Morgan analysts said.

The class of drugs, known as incretins, has been shown to suppress appetite and reduce food intake. J.P. Morgan expects Lilly’s sales from its incretin portfolio to rise from $8 billion last year to $23 billion in 2025 and $34 billion in 2027 before reaching $50 billion in 2030.Lilly is a leader in the space—its Mounjaro drug, approved for diabetes, crushed sales estimates in the second quarter.

Novo Nordisk became Europe’s most valuable company earlier this week, leapfrogging luxury conglomerate LVMH , after its weight-loss drug Wegovy was made available in the U.K. The Danish company now has a market capitalization of $432 billion, surpassing the size of Denmark’s economy.

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