Novo Nordisk's Wegovy Gets EU Regulator Endorsement to Reduce Heart Risks -- Update
"Strong rivals" are coming one after the other. Eli Lilly and Co (LLY.US) has evaporated over 120 billion US dollars in market cap. Has the "Novartis duo" finally been broken?
Due to at least two competitors making encouraging progress in the treatment of obesity, Eli Lilly and Co.'s position as the leader in the weight-loss drug boom is being threatened, with market cap evaporating more than $120 billion in the past eight days.
Will it break the duopoly monopoly? The "new star" of weight loss drug Viking's stock price has doubled 2.4 times this year.
Eli Lilly and Co's market cap evaporated by 120 billion US dollars.
Novo Nordisk Shares Decline Amid Competitive Pressure
Is the weight loss drug industry about to change? Viking Therapeutics rose nearly 40% intraday and hit a two-month high.
After communicating with the regulatory institution FDA, USA's Viking Therapeutics is pushing forward the weight-loss candidate drug VK2735 to phase III clinical trials ahead of schedule, potentially bringing the launch time forward by one year. This drug is expected to be injected once a month, which is more convenient than the same miraculous drug from Eli Lilly and Co and Novo Nordisk A/S. The oral version of VK2735 will start mid-term trials in the fourth quarter of this year.
Viking Therapeutics Stock Surges 31% As Company Advances Weight Loss Drug To Late-Stage Trial
