00:10:21 EDT Sat 11 May 2024
Enter Symbol
or Name
USA
CA



Goldman Sachs CDR (CAD Hedged)
Symbol GS
Shares Issued 400,000
Close 2023-11-10 C$ 16.50
Market Cap C$ 6,600,000
Recent Sedar Documents

Globe says Goldman sees fat profits in weight loss

2023-11-13 07:40 ET - In the News

The Globe and Mail reports in its Saturday, Nov. 11, edition that the latest stock market craze is upon us. The Globe's Tim Shufelt writes that a new class of obesity and diabetes drugs known as GLP-1s is being hyped as the weight-loss Holy Grail the pharmaceutical industry has chased for decades. Great fortunes are already being realigned within the pharmaceutical sector and beyond, which Mr. Shufelt calls the Ozempic effect. Is it overdone? Of course. Many of the hallmarks of a stock bubble are there. Novo Nordisk, the Danish firm behind the Ozempic shot for Type 2 diabetes and the Wegovy weight loss shot, as well as Eli Lilly and Co., whose drug Zepbound was approved by the Food and Drug Administration on Wednesday, have each seen their stock rise by more than 60 per cent over the past year. Consider that more than 40 per cent of the U.S. population is classified as obese and you start to get an idea of the vast market potential. Goldman Sachs recently forecast that the global market for obesity drugs could hit $100-billion (U.S.) by 2030 -- a number that would have seemed outlandish just a year ago. Several analysts have predicted that Zepbound is fated to become the single best-selling drug in history.

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