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The rise in celebrity endorsements for a new category of weight-loss medications is undeniable, despite their ineffectiveness on Boris Johnson, who seems unyielding in both lifestyle choices and politics. However, reports of severe side effects are starting to emerge.
A personal injury law firm in the US has filed a lawsuit on behalf of a Louisiana woman who allegedly experienced extreme vomiting and tooth loss after taking the drugs Ozempic and Mounjaro.
The manufacturers claim that they prioritize patient safety, but there may be additional personal injury claims in the future. Nevertheless, these lawsuits are unlikely to dampen enthusiasm for obesity treatments.
These diabetes treatments belong to a drug class known as GLP-1 agonists, which have recently been employed for weight loss, often off-label.
Ozempic and Wegovy, manufactured by Novo Nordisk of Denmark and approved by US regulators in 2021 as an obesity treatment, as well as Mounjaro by Eli Lilly of the US, fall under this category.
The European Medicines Agency is conducting a separate review of data regarding the risk of suicidal thoughts associated with GLP-1 agonists. Critics point out the potential misuse of these medications by individuals with eating disorders.
The popularity of GLP-1 agonists has led to supply issues, causing prices to skyrocket. Wegovy, for instance, has a list price of $1,349 for a 28-day supply in the US.
Forecasts regarding the potential size of the weight-loss drugs market have ballooned. Morgan Stanley recently revised its estimate from $54 billion to $77 billion by the end of the decade. As a result, Novo and Lilly’s stock prices have soared, trading at premiums compared to rivals like Pfizer.
Novo is soon expected to release the results of a highly anticipated study on whether Wegovy reduces the risk of heart disease or obesity in individuals with a history of cardiac trouble. Positive results would further boost the company’s shares.
The ultimate prize for investors in the future is a broad range of affordable drugs that tackle the human tendency to overeat. While legal and regulatory actions may impact earnings, they are unlikely to nullify them.
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