Novo Nordisk could win almost half of the fast-growing market for weight loss products and potentially reach revenue from weight loss products of USD 33bn by 2030, JPMorgan estimates in a note according to Bloomberg News.

The US bank raises its price target for Novo Nordisk to DKK 1,500 (USD 215.7) from DKK 1,200 and reiterates its ”overweight” recommendation.

This is from an analysis wherein the US bank estimates that Novo Nordisk’s share of the obesity market will be around 45% in the long term.

JPMorgan has also approximately doubled its estimate for the total market for weight loss products to USD 71bn in 2032, according to Bloomberg News.

Novo Nordisk and the American archrival Eli Lilly are estimated to take the vast majority of the market.

On Thursday, Novo Nordisk rises for the fifth consecutive trading day by another 0.2% to DKK 1,329.80. If the level holds, it will be closing record number 29 this year.

(Translated using DeepL with additional editing by Christian Radich Hoffman)