Overview
- GLP-1 medicines remain the dominant story in pharma, yet the article argues investors may find better value elsewhere.
- The piece recommends Bristol Myers Squibb and Merck as discounted alternatives to GLP-1 leaders.
- Eli Lilly’s valuation is cited as stretched, with a price-to-earnings ratio just under 50 and heavy reliance on Mounjaro and Zepbound.
- The analysis underscores patent cliff risks across the sector and the need for steady pipelines to sustain profits.
- Merck’s core areas are cardiovascular disease, oncology, and infectious diseases, while Bristol Myers focuses on cardiovascular, cancer, and immune disorders.