The obesity epidemic is bursting at the seams.
According to the World Health Organization, obesity has tripled since 1975. More than 1.9 billion adults were overweight, as of 2016, with more than 650 million considered obese. Plus, more than 340 million children were considered overweight in 2016, as well. It’s an issue that’s been plaguing society for quite some time. Worse, by 2030, about 20% of the global population will be obese, according to the National Centers for Biotechnology Information.
One of the companies that could benefit from that is Eli Lilly (LLY).
In fact, the company’s diabetes drug, Mounjaro could soon be approved to treat obesity, and could see peak sales of about $60 billion, according to Citi analysts. “In the near-term, we rely on increasing Mounjaro capacity and forthcoming obesity approval to continue to drive share price momentum,” said the firm, as quoted by Barron’s.
Citi also has a $675 price target on LLY, with a buy rating.