Vontobel assesses obesity drugs impact for Swiss insurers, med-tech companies

Vontobel Holding AG

18/09/2024 09:03

** 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       Potential
                                       drugs -       mid-to-long
                                       current       -term
                                       impact        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)
 ((Isabel.demetz@thomsonreuters.com))