The rising popularity of weight loss drugs is a key reason healthcare company Eli Lilly (NYSE: LLY) has been soaring in value in recent years. It has a leading GLP-1 drug that's approved for diabetes (Mounjaro) and weight loss (Zepbound). Those products are generating billions in revenue for the business every quarter.
What's encouraging, however, is that there may be more benefits with GLP-1 drugs than simply losing weight and controlling blood sugar. Lilly is developing a GLP-1 drug that has shown in a recent trial that it can also help with pain relief. That could be a promising development for multiple reasons.
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