I beg to differ
The recent spike in $Eli Lilly and Co(LLY.US$ and $NOVONIX LIMITED(NVNXF.US$ was due to the hot topic of weight-reducing / weight management medicines.
Both of these companies are experts that are focusing in producing medicines for controlling diabetes mellitus , such as insulins and GLP-1 agonist.
While these two words may sound like a jargon , they are medicines that help to control blood sugar level in our body.
One of the blockbuster medicines peoduced by both companies in the category of GLP-1, showed an effect of excellent weight reducing other than just helping to control blood sugar level. It is marketed as Wegovy under Novo Nordisks , and Mounjaro under Eli Lilly
Both of the companies are expecting to get the approval from FDA to market these drugs (formally to be used for weight control) , that’s why both their share price have been doing good.
It’s not the entire industry is booming out of sudden , but specifically , the weight management segment .
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