Why Eli Lilly, Novo Nordisk, and Viking Therapeutics Are On Fire Today
Weight loss drugmakers are having an exceptionally strong trading session today. As of 10:32 a.m. ET Tuesday morning, Eli Lilly (NYSE: LLY) was up by a noteworthy 16.7%, Novo Nordisk (NYSE: NVO) was higher by 15.8%, and Viking Therapeutics (NASDAQ: VKTX) was in positive territory by 8.8%.
The spark? Ahead of the opening bell, Novo Nordisk announced trial results from a late-stage study evaluating the cardioprotective effects of its highly effective weight loss treatment Wegovy. Patients treated with the drug exhibited a 20% lower incidence of heart attack, stroke, or death from heart disease compared to those on a placebo, the company said.
Obesity is a well-established risk factor for cardiovascular disease. So, in a sense, it's not all that surprising that losing weight goes hand-in-hand with a lower risk of heart attack or stroke. But these quantitative data should give Novo Nordisk the opportunity to expand the eligible patient population for Wegovy.
Source Fool.com
