GLP-1 Demand Is Soaring. 2 Stocks That Could Benefit From This (Hint: Not Eli Lilly or Novo Nordisk)
They are way more than just GLP-1 stocks.
GLP-1 drugs are experiencing unprecedented demand, with traditional diabetes treatments expanding into obesity management and obstructive sleep apnea. Analysts predict these therapies will eventually gain approval for numerous other conditions. While Eli Lilly and Novo Nordisk currently lead the industry, other drugmakers like Amgen and Regeneron could benefit from the GLP-1 surge.
Amgen (NASDAQ: AMGN) has been performing exceptionally well this year, with its stock soaring 27% year-to-date. The company's earnings have been strong, with a 10% year-over-year increase in revenue to $10.1 billion in the second quarter. Adjusted earnings per share (EPS) rose 4% to $6.29 compared to the previous year. This impressive financial performance makes Amgen an attractive option for investors looking to capitalize on the GLP-1 boom.
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