Key Points
Nov 21 (Reuters) - Tema ETFs has launched a new exchange traded fund (ETF) that tracks popular drugmakers like Novo Nordisk (NOVOb.CO) and Eli Lilly (LLY.N), aiming to tap into growing demand for their weight-loss and diabetes drugs...
Shares in Eli Lilly and Novo Nordisk, which are among the fund's top holdings, have rallied 63% and 50%, respectively, so far this year after their treatments like Ozempic, Wegovy and Mounjaro proved effective in treating diabetes and weight loss and may also help cut the risk of stroke or heart attack...
The advances of the class of weight-loss and diabetes therapies known as GLP-1 receptor agonists, are only the tip of the iceberg, said David K. Song, investment partner and head of life sciences at Tema ETFs...
Other ETFs like the VanEck Pharmaceutical ETF (PPH.O), which has Novo Nordisk among its biggest holdings and total assets of $383.81 million, has seen net inflows of nearly $26 million from August, according to Lipper data...
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