These drugmakers are catching up to Eli Lilly and Novo Nordisk

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These drugmakers are catching up to Eli Lilly and Novo Nordisk

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-2735 — an injectable ***** that combines two gut hormones, GLP-1 and GIP (gastric inhibitory polypeptide) — would speed directly into a phase 3 program after it met with the Food and ***** Administration. The company is also exploring whether the weight loss treatment could be given only once a month. BTIG analyst Justin Zelin said Viking appears “increasingly confident” that monthly dosing is a possibility, an achievement he believes would be “icing on the cake.” Like Lilly and Novo, Viking is also working on an ***** *****, which will move to a phase 2 trial in the fourth quarter. Zelin expects more detail on the trials at the ObesityWeek conference in San Antonio in early November. He rates Viking shares a buy and has a $125 price target, slightly higher than the $114 average target on Wall Street, according to FactSet. Even with Viking’s strong rally last week, the stock has 89% upside ahead if it hits Zelin’s target. More news ahead Further advancements in the GLP-1 space are expected throughout the second half of this year, further boosting Lilly and Novo stock. Two big events on the calendar are a mid-September conference in Spain for the ********* Association for the Study of Diabetes and ObesityWeek two months later. HSBC’s Kumar has identified at least 125 ***** pipeline candidates to treat obesity at various stages of development. The market has heard recent updates from players including Pfizer and Amgen as well as Structure Therapeutics and Altimmune . Plus, Lilly and Novo aren’t sitting still. Kumar expects a readout on Novo’s next-generation *****, CagriSema , in the fourth quarter will “de-risk Novo’s longer-term growth potential.” Below is a table of some of the clinical trials investors are anticipating news from later this year. —CNBC’s Nick Wells contributed to this report.

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