Never Mind Covid, Investors Want a Pfizer Obesity Pill
Some of this year’s best performers in the healthcare sector are companies expected to profit from the anti-obesity drug craze, with Eli Lilly and Novo Nordisk shares both up more than 40% each. Much of the rest of the industry is underwater, with some of the biggest decliners being pandemic winners such as Pfizer and Moderna.It is little wonder, then, that investors were hoping Pfizer could jump to the winning camp with an obesity pill. But the company’s silence on its experimental oral medication, danuglipron, during its earnings release Tuesday, is worrying Wall Street. “Not one mention [of danuglipron] in the prepared remarks from Pfizer,” noted Will Sevush, a healthcare strategist for Jefferies. Before today’s earnings, David Risinger, a Leerink Partners analyst, had written that Pfi...
