Zealand Pharma Stock Soars on Positive Weight Loss Drug Trial, Heating Up Competition in Lucrative Obesity Market
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Zealand Pharma's stock soared 34% after positive trial results for survodutide, a potential new weight loss drug.
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Survodutide could compete with top-selling drugs from Novo Nordisk and Eli Lilly if approved.
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Weight loss drugs are having a major economic impact, with Novo Nordisk's sales projected to grow 26% in 2024.
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Norway's sovereign wealth fund said Novo Nordisk and Eli Lilly could become the first $1 trillion healthcare companies.
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Several pharma companies like Regeneron, Amgen, and Viking are developing new weight loss drugs to compete with the current leaders.