The ongoing boom in appetite suppressants continues to boost the shares of the Danish pharmaceutical company Novo Nordisk and its US competitor Eli Lilly. Both companies have been benefiting for some time from the high demand for weight loss products, driving their stock prices to record highs. On Friday, Novo Nordisk's shares reached a new all-time high once again.

With a market capitalization of slightly more than 580 billion euros, Novo Nordisk is by far the most valuable company in Europe. Following it are the Dutch semiconductor equipment supplier ASML (383 billion euros) and the French luxury goods company LVMH (381 billion euros). The top-ranked German company on this list is SAP, which stands in seventh place with a market capitalization of 217 billion euros.

In the USA, Eli Lilly has fought its way into the top ten most valuable companies and, with a market value of nearly $800 billion (approximately €730 billion), is the most expensive pharmaceutical company in the world. Remarkably, Eli Lilly does not rank among the largest pharmaceutical firms in terms of revenue. The company is one of the few non-tech companies among the ten most valuable companies in the USA, while other pharmaceutical giants like Johnson & Johnson and Merck & Co are significantly behind.

On Friday, Novo Nordisk stock reached a record high of 990.90 kroner and ultimately closed up 1.09 percent at 984 kroner. Even before the boom in weight loss aids, the stock was among the most sought-after titles among European blue-chip stocks, but since then, the rally has further accelerated. Since the end of 2022, the price, which had already risen significantly in previous years, has more than doubled again. Compared to five years ago, the increase amounts to 500 percent, which corresponds to a sixfold increase in the company's value.

Similarly impressive is the development at Eli Lilly. Its market value has increased by more than 600 percent over the past five years to 796 billion dollars. On Thursday, the stock reached a new record high of nearly 847 dollars during trading, before giving back some of the gains. On Friday, the stock finally rose by 1.52 percent on the NYSE to 849.99 dollars.

Appetite suppressants such as Wegovy from Novo Nordisk and Mounjaro from Eli Lilly are experiencing enormous demand, especially in the USA. Novo Nordisk claims to be the world market leader for so-called GLP-1 drugs, which suppress the feeling of hunger, with a market share of 55 percent. The strongest rival is the company founded by pharmacist Eli Lilly.

Despite the recent price gains, the analysts surveyed by the news agency Bloomberg see further potential in Eli Lilly. The average price target of the 32 recorded experts is nearly 864 dollars. For Novo Nordisk, however, the average price target is only 925 Danish kroner, which is below the current level.