Could Abbott Labs Be the Next Big Winner in the Billion-Dollar Weight Loss Market?
Drugmakers Novo Nordisk and Eli Lilly have been making headlines in recent times, thanks to their sought-after weight loss drugs. In fact, the products have become so popular that demand has surpassed supply -- and the companies have been ramping up production to try to keep up.
Novo Nordisk's Ozempic and Eli Lilly's Mounjaro are approved for type 2 diabetes, but doctors also have prescribed them for weight loss. And the companies sell the same molecules specifically approved for weight loss under different brand names: Novo Nordisk's Wegovy and Eli Lilly's Zepbound. These weight loss portfolios have been bringing in billions of dollars in revenue and, considering demand, that's likely to continue.
But these two pharma giants may not be the only ones to benefit from this growing market in the coming years. Healthcare-powerhouse Abbott Laboratories (NYSE: ABT) just entered the space -- but isn't launching a new weight loss drug or a surgical solution. Instead, it's focusing on nutrition.
Source Fool.com
Abbott Laboratories Aktie
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