Could Viking Therapeutics Be the Next Eli Lilly?
Eli Lilly (NYSE: LLY) wasn't the first to conquer the weight loss drug market. Novo Nordisk started the ball rolling back in 2017, when it won approval for its GLP-1 drug, Ozempic. Though Ozempic gained approval for type 2 diabetes, doctors prescribed it off-label for weight loss, and Novo soon achieved a regulatory nod for the drug under the brand name of Wegovy, specifically for weight loss.
Though Novo continues as a giant in this market, over the past year, newer entrant Lilly has slipped into the top spot. Lilly now holds 60% of the U.S. GLP-1 weight loss drug market. But remaining the leader isn't a sure thing, as other healthcare companies, from biotechs to pharma giants, are working to enter this valuable market and potentially dominate it.
With this in mind, could Viking Therapeutics (NASDAQ: VKTX) be the next Eli Lilly? Let's find out.
Source Fool.com
