(Bloomberg) — Weight-loss drugmakers Novo Nordisk A/S and Eli Lilly & Co. are more likely to turn into laggards in 2024 than other stock market stars of this year. That’s according to Bloomberg’s latest Markets Live Pulse survey.
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About 34% of respondents in the survey of 518 participants picked weight-loss drugmakers as this year’s winners that would most probably turn into losers next year. That compares with 31% who chose the so-called Magnificent Seven technology behemoths as potential underperformers, while the rest were split about evenly between Japanese and MSCI Latin American stocks.
Novo Nordisk became Europe’s most-valuable listed company this year, while Eli Lilly shares have surged about 60%, due to the success of their weight-loss drugs, which have sparked something of a gold rush in the pharmaceuticals industry. Valuations of both…
