It has just revealed the fact that big pharma saw some massive moves in 2023, and they have to do with all kinds of treatments for Alzheimer’s, gene editing, and weight loss. Check out the latest reports about this below.
Pharma in 2023
Drug manufacturers had a remarkable year, achieving several historical firsts that will shape the pharmaceutical industry in 2024 and beyond.
The weight loss drug market became the newest gold rush in the pharmaceutical industry this year, as demands for expensive yet highly effective treatments from Novo Nordisk and Eli Lilly skyrocketed.
Patients and investors also discovered that the benefits of the medicines could extend beyond their original purposes.
The Alzheimer’s disease treatment space also received a lot of attention, with the approval and launch of the first-ever treatment that has been proven to slow the progression of the memory-robbing condition.
The world’s first vaccines against respiratory syncytial virus were introduced in several markets during the fall, and regulators in the United States recently approved the first-ever gene-editing therapy for sickle cell disease treatment.
However, Covid vaccines and treatments faced a significant decline in demand this year, causing them to become a burden for the industry. This led Wall Street to shift its focus toward breakthroughs in weight loss drugs and other treatments.
Additionally, a new and controversial policy emerged in the pharmaceutical industry this year – Medicare drug price negotiations – aimed at reducing prescription drug costs in the U.S.
This policy is a new challenge for drugmakers, as it could negatively impact their revenue and profits.
The weight loss market was struggling for years due to ineffective products with unpleasant side effects. However, pharmaceutical companies such as Novo Nordisk and Eli Lilly have introduced newer drugs like Wegovy, Ozempic, and Mounjaro.
These drugs have been highly successful and have generated billions of dollars for the drugmakers, putting them at the forefront of the industry.
As a result of this success, Eli Lilly’s shares have risen by 58% this year, making it the largest US pharmaceutical company with a market cap of over half a trillion dollars.
Novo Nordisk’s stock has also risen by 47% this year, and the company briefly became Europe’s most valuable company in September.
Some analysts predict that the market for weight loss and diabetes drugs could be worth $100 billion by 2030.
