Can Pfizer Challenge Lilly and Novo Nordisk in the Obesity Market?
Weight loss translates to investor profits. Just look at Eli Lilly and Novo Nordisk. Both stocks have skyrocketed thanks largely to their obesity drugs, with Lilly's share price more than quadrupling and Novo's shares more than tripling over the last three years.
Meanwhile, 's (NYSE: PFE) fortunes have taken a different path. The big pharma stock has plunged with sinking sales of its COVID-19 products. But can Pfizer possibly challenge Lilly and Novo Nordisk in the obesity market?
Pfizer had high hopes for danuglipron, a GLP-1 agonist like Novo Nordisk's Ozempic and Wegovy. However, those hopes suffered a severe blow after the company announced the results from a phase 2 study of a twice-daily oral formulation of the drug. The side effects were so bad that Pfizer opted not to advance the twice-daily danuglipron into late-stage testing.
Source Fool.com
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