Vontobel assesses obesity drugs impact for Swiss insurers, med-tech companies
** Vontobel estimates the market potential for obesity drugs in the U.S. to reach a three-digit billion U.S. dollar amount and picks Swiss Re SRENH.S and Ypsomed YPSN.S as the most likely to profit from it
** Among Swiss life insurers, Swiss Re could benefit the most from a rising demand in life and health reinsurance, with a market share of about 15%, as obesity drugs improve life expectancy, it says
** Its position in the U.S. could lead to an additional income of $430 million, which could add $1 per share to dividends, it adds
** Obesity drugs will have a major positive impact on medical technology manufacturer Ypsomed YPSN.S, as injection pens are its key driver of sales growth, it says
** In the Swiss pharmaceutical sector Bachem BANB.S is set to benefit from growing demand in the GLP-1 peptide production, while Roche ROG.S is yet to prove its obesity pipeline is successful
COMPANY | RATING | PT | Obesity drugs - current impact | Potential mid-to-long-term impact |
|---|---|---|---|---|
Baloise | Hold | CHF 157 | None | Low |
Helvetia | Hold | CHF 143 | None | Low |
Swiss Life | Hold | CHF 732 | None | Low to Medium |
Swiss Re | Buy | CHF 140 | None | Medium to High |
Vaudoise | Hold | CHF 473 | None | Low |
Zurich | Hold | CHF 499 | None | Low to Medium |
Novartis | Buy | CHF 112 | None | Low |
Roche | Hold | CHF 247 | None | Medium |
Bachem | Hold | CHF 90 | Low | High |
Ypsomed | Buy | CHF 470 | Low | High |
Reporting by Isabel Demetz
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