Eli Lilly shares have been riding the excitement over anti-obesity drugs for quite a while, but not today. Shares were down slightly as investors rallied around Viking Therapeutics , a clinical stage biopharmaceutical company that is developing an oral drug that would compete with Lilly's Zepbound. Viking's therapy, VK2735, showed promising results in a phase 2 trial . Patients enrolled in the study tolerated the drug very well, with very few stopping treatment.
mountain Viking stock year to date. Viking shares were up more than 90% in recent trading. Even ahead of Tuesday's news, the stock has soared so far this year. Although Viking's results are promising, analysts believe the market is so vast for these drugs that there is an opportunity for additional players. Also both Novo Nordisk and Lilly, the market leaders, also have next-generation drugs in their pipeline.
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