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Pharma Stocks Outlook: Where Are 2024’s Top Performers Headed Next?

The three top performing stocks discussed below have appreciated in value by an average of 129.7% in 2024. Such torrid growth logically raises the question of what is possible moving forward. While a conservative investor might suggest that such growth is unsustainable, each of those firms is strongly positioned in the weight-loss pharmaceutical category.

Sales of weight loss drugs, led by GLP-1 agonists, are expected to grow at a compound annual rate above 19% between 2023 and 2029. The drugs reduce appetite while slowing emptying of the stomach. The result is astounding weight loss for users. That alone will fuel increasing demand. By the way, demand metrics are pretty incredible. Some estimates contend that 9% of the U.S. population may be on the drugs by 2030.

Let’s dive in!

This post appeared first on InvestorPlace.