3 Beaten-Down Stocks With GLP-1 Exposure to Buy and Hold
They may profit from the rapidly growing GLP-1 market in very different ways.
Overview
The first GLP-1 medicine was approved in the U.S. in 2005 for the treatment of type 2 diabetes. Since then, breakthroughs have occurred in the field. Medicines in this class are now indicated for chronic weight management, obstructive sleep apnea, metabolic dysfunction-associated steatohepatitis, and other conditions. Analysts predict that the market for GLP-1 drugs will expand rapidly over the next decade, and several companies could capitalize on it. Let's consider three corporations whose businesses may benefit from the GLP-1 boom to invest in today: Novo Nordisk (NYSE: NVO), Becton, Dickinson and Company (NYSE: BDX), and Dexcom (NASDAQ: DXCM).
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Novo Nordisk has been a pioneer in the GLP-1 market. The company's Ozempic and Wegovy -- two GLP-1 medicines -- have become household names. However, the Denmark-based pharmaceutical giant has lost significant market share to its main competitor in this niche, Eli Lilly (NYSE: LLY). That said, Novo Nordisk can still capitalize on the GLP-1 boom over the medium term. In January, Novo Nordisk launched oral Wegovy, the first GLP-1 pill approved for weight loss, and it has been a smashing success. This is a niche of the industry where Novo Nordisk is even beating Eli Lilly. Novo Nordisk also has several products in the pipeline that could gain approval within a few years, helping cement its market position.
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Originally published at www.fool.com.