Reported 3 months ago
Shares of Roche Holding rose by 7% due to positive data from phase 1 trials of its weight loss drug, leading to a drop in shares for Eli Lilly and Novo Nordisk. Roche's new GLP-1 drug, CT-996, which provides clinically meaningful weight loss in pill form, poses a threat to the other companies' market dominance. Investors may find Roche's stock more attractive than Novo Nordisk and Eli Lilly due to lower valuation multiples.
Source: YAHOO