The request for weight loss medications risks creating a bubble in the pharmaceutical industry

A Deloitte report, cited by CNBC, warns that the explosive demand for weight loss and diabetes medications, especially those in the GLP-1 class, such as Wegovy and Zepbound, could create a bubble in the pharmaceutical industry. These medications have generated a 7% increase in research and development returns, marking the third consecutive year of growth.

For the first time in 16 years, obesity treatments have surpassed oncology as the main source of value in pharmaceutical portfolios, generating 38% of the industry's estimated revenues. However, excluding GLP-1 medications, the return drops to 2.9%, down from 3.8% the previous year. Approximately 9% of advanced projects are estimated to generate 70% of future sales, with companies like Novo Nordisk and Eli Lilly dominating this segment.

Although these medications have significant health benefits, there are uncertainties regarding their long-term effects. Experts warn that dependence on a single class of drugs could make the industry vulnerable to specific shocks, putting companies in front of a strategic decision: to invest in innovation or to seek new scientific directions.