<p>近年来，<strong>诺和诺德</strong>（NVO 6.07%）和 <strong>礼来</strong>（LLY 0.49%）是最热门的两只医疗保健股票。前者在过去五年中上涨了 400%，而后者上涨了 67%。然而，如果不是今年诺和诺德的价值大幅下跌，其涨幅将会更为显著。</p>
<p>但这些股票仍然看起来被低估了。虽然许多投资者可能正在重新评估这两家 GLP-1 药物制造商未来的增长潜力，但它们似乎都被低估了。如果你还没有投资这两家公司，以下是你可能考虑投资的原因。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzMzMjYvYS1kb2N0b3ItdXNpbmctYS1zY2FsZS10by1tZWFzdXJlLWEtcGVyc29ucy13ZWlnaHQuanBnJnc9NzAw?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzMzMjYvYS1kb2N0b3ItdXNpbmctYS1zY2FsZS10by1tZWFzdXJlLWEtcGVyc29ucy13ZWlnaHQuanBnJnc9NzAw"/></p>
<p>图片来源：Getty Images。</p>
<h2>GLP-1 减肥药物可能即将获得覆盖</h2>
<p>GLP-1 减肥药物有助于抑制食欲，从而帮助人们通过更快感到饱腹来减轻体重。许多制药公司正在竞相开发 GLP-1 减肥治疗，这可能是未来多年该行业最热门的增长机会之一。</p>
<p>然而，礼来和诺和诺德具有优势，因为它们已经在市场上拥有获批的治疗方案：礼来有 Zepbound，诺和诺德有 Wegovy。但消费者在考虑使用这些药物时，最大的顾虑无疑是它们的价格。例如，Zepbound 的 28 天供应的标价超过 1000 美元，而 Wegovy 则超过 1300 美元。</p>
<p>据报道，特朗普政府正在考虑可能将 GLP-1 减肥治疗纳入医疗保险和医疗补助。如果那样的话，这可能成为这些公司的巨大增长催化剂。虽然这些药物可能成本高昂，但考虑到减肥带来的整体健康改善，它们可能会减轻整个医疗保健行业的一些负担。而且 GLP-1 药物的好处正在逐渐显现。</p>
<p>例如，Zepbound 去年被批准作为治疗阻塞性睡眠呼吸暂停的药物。监管机构还批准了 Wegovy，以帮助降低肥胖或超重成年人严重心脏问题的风险。Wegovy 的活性成分 Semaglutide 也可能在治疗物质滥用障碍方面有效。</p>
<h2>这两只股票还有更大的增长空间</h2>
<p>这两家公司近年来表现良好。令人兴奋的是，随着研究人员发现这些 GLP-1 药物的更多适应症，这可能会导致更多的应用和使用案例，从而带来更强劲的增长率。</p>
<p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/faff79f8f685762e63af6f0e31da6715.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/faff79f8f685762e63af6f0e31da6715.png"/></p>
<p>LLY 收入（季度同比增长）数据来自 YCharts。</p>
<p>诺和诺德的增长率今年有所下降，但未来还有更多的增长潜力。根据 Grand View Research 的数据，去年全球 GLP-1 减肥药物市场价值为 140 亿美元，预计到本世纪末将增长到 490 亿美元。诺和诺德和礼来都处于良好的位置，可以从这些机会中受益。</p>
<h2>这两只股票看起来都是长期投资的好选择</h2>
<p>许多投资者今年已经放弃了诺和诺德——截至 2025 年，其股价下跌了约 35%——但这可能是一个代价高昂的错误，因为它仍然拥有巨大的增长机会。其药物的复合版本影响了销售，但美国政府正在对此进行打击。如果它为 GLP-1 减肥药物提供覆盖，这只前景看好的医疗保健股票可能会再次起飞。以仅 14 倍的市盈率，今天购买的诺和诺德股票在长期内可能会被证明是一个超值交易。</p>
<p>礼来今年下跌了 3%，虽然它没有像诺和诺德那样自由下跌，但看起来也可能是一个被低估的买入机会。该股票的市盈率接近 50 倍，但未来的增长和更大的利润率可能会在未来几年显著降低这一倍数。</p>

诺和诺德公司

礼来

<p>诺和诺德和礼来被认为是被低估的股票，尽管过去的涨幅显著，诺和诺德在五年内上涨了 400%，而礼来上涨了 67%。这两家公司都已获得 GLP-1 减肥药的批准，如果被医疗保险和医疗补助覆盖，需求可能会增加。预计到 2030 年，GLP-1 市场将从 140 亿美元增长到 490 亿美元。尽管近期有所下跌，这两只股票仍被视为强劲的长期投资，诺和诺德的市盈率仅为 14，而礼来的市盈率为 50，暗示未来增长的潜力</p>

<p>Two of the hottest healthcare stocks in recent years have been <strong>Novo Nordisk</strong>(NVO 6.07%) and <strong>Eli Lilly</strong>(LLY 0.49%). The former has risen by 400% in the past five years, while the latter is up 67%. If not for the steep sell-off in Novo Nordisk's value this year, however, its gains would be far more significant.</p>
<div class="lb-trans"><p>近年来，<strong>诺和诺德</strong>（NVO 6.07%）和 <strong>礼来</strong>（LLY 0.49%）是最热门的两只医疗保健股票。前者在过去五年中上涨了 400%，而后者上涨了 67%。然而，如果不是今年诺和诺德的价值大幅下跌，其涨幅将会更为显著。</p>
</div><p>But these stocks still look underrated. While many investors may be reevaluating how much growth may be ahead for these two GLP-1 drugmakers, both seem to be underestimated. If you haven't invested in either of these companies yet, here's why you may want to consider doing so.</p>
<div class="lb-trans"><p>但这些股票仍然看起来被低估了。虽然许多投资者可能正在重新评估这两家 GLP-1 药物制造商未来的增长潜力，但它们似乎都被低估了。如果你还没有投资这两家公司，以下是你可能考虑投资的原因。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzMzMjYvYS1kb2N0b3ItdXNpbmctYS1zY2FsZS10by1tZWFzdXJlLWEtcGVyc29ucy13ZWlnaHQuanBnJnc9NzAw" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F833326%2Fa-doctor-using-a-scale-to-measure-a-persons-weight.jpg&amp;op=resize&amp;w=700"/></p>
<p>Image source: Getty Images.</p>
<div class="lb-trans"><p>图片来源：Getty Images。</p>
</div><h2>Coverage could be coming for GLP-1 weight loss drugs</h2>
<div class="lb-trans"><h2>GLP-1 减肥药物可能即将获得覆盖</h2>
</div><p>GLP-1 weight loss drugs help to curb appetite, which, in turn, helps people to lose weight by feeling fuller sooner. Many pharma companies are racing to develop GLP-1 weight loss treatments, in what could be one of the hottest growth opportunities in the sector for many years to come.</p>
<div class="lb-trans"><p>GLP-1 减肥药物有助于抑制食欲，从而帮助人们通过更快感到饱腹来减轻体重。许多制药公司正在竞相开发 GLP-1 减肥治疗，这可能是未来多年该行业最热门的增长机会之一。</p>
</div><p>Eli Lilly and Novo Nordisk have an advantage, however, as they already have approved treatments on the market: Lilly has Zepbound and Novo Nordisk has Wegovy. But arguably the biggest reason consumers think twice about taking them is their prices. Zepbound, for example, has a list price of over $1,000 for a 28-day supply, while Wegovy is more than $1,300.</p>
<div class="lb-trans"><p>然而，礼来和诺和诺德具有优势，因为它们已经在市场上拥有获批的治疗方案：礼来有 Zepbound，诺和诺德有 Wegovy。但消费者在考虑使用这些药物时，最大的顾虑无疑是它们的价格。例如，Zepbound 的 28 天供应的标价超过 1000 美元，而 Wegovy 则超过 1300 美元。</p>
</div><p>Reportedly, however, the Trump administration is looking at possibly covering GLP-1 weight loss treatments under Medicare and Medicaid. If that happens, it could become a huge growth catalyst for these companies. While the medications can be costly, given the overall health improvements that can come with weight loss, they could alleviate some of the burden on the healthcare sector as a whole. And GLP-1 drugs are turning out to have wide-ranging benefits.</p>
<div class="lb-trans"><p>据报道，特朗普政府正在考虑可能将 GLP-1 减肥治疗纳入医疗保险和医疗补助。如果那样的话，这可能成为这些公司的巨大增长催化剂。虽然这些药物可能成本高昂，但考虑到减肥带来的整体健康改善，它们可能会减轻整个医疗保健行业的一些负担。而且 GLP-1 药物的好处正在逐渐显现。</p>
</div><p>Zepbound, for instance, was approved last year as a treatment for obstructive sleep apnea. And regulators approved Wegovy to help reduce the risk of serious heart problems in obese or overweight adults. Semaglutide, the active ingredient in Wegovy, also may be effective in treating substance abuse disorders.</p>
<div class="lb-trans"><p>例如，Zepbound 去年被批准作为治疗阻塞性睡眠呼吸暂停的药物。监管机构还批准了 Wegovy，以帮助降低肥胖或超重成年人严重心脏问题的风险。Wegovy 的活性成分 Semaglutide 也可能在治疗物质滥用障碍方面有效。</p>
</div><h2>Much more growth out there for these two stocks</h2>
<div class="lb-trans"><h2>这两只股票还有更大的增长空间</h2>
</div><p>Both companies have been doing well in recent years. The exciting thing is that as researchers discover more indications for these GLP-1 drugs, it could lead to more applications and use cases, which would result in even stronger growth rates.</p>
<div class="lb-trans"><p>这两家公司近年来表现良好。令人兴奋的是，随着研究人员发现这些 GLP-1 药物的更多适应症，这可能会导致更多的应用和使用案例，从而带来更强劲的增长率。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/faff79f8f685762e63af6f0e31da6715.png" alt="" original-src="https://media.ycharts.com/charts/faff79f8f685762e63af6f0e31da6715.png"/></p>
<p>LLY Revenue (Quarterly YoY Growth) data by YCharts.</p>
<div class="lb-trans"><p>LLY 收入（季度同比增长）数据来自 YCharts。</p>
</div><p>Novo Nordisk's growth rate has declined this year, but there's much more growth on the horizon. Last year, the global GLP-1 weight loss drug market was worth $14 billion, and is expected to triple to $49 billion by the end of the decade, according to Grand View Research. Both Novo Nordisk and Eli Lilly look to be in excellent positions to benefit from these opportunities.</p>
<div class="lb-trans"><p>诺和诺德的增长率今年有所下降，但未来还有更多的增长潜力。根据 Grand View Research 的数据，去年全球 GLP-1 减肥药物市场价值为 140 亿美元，预计到本世纪末将增长到 490 亿美元。诺和诺德和礼来都处于良好的位置，可以从这些机会中受益。</p>
</div><h2>Both stocks look like great buys for the long haul</h2>
<div class="lb-trans"><h2>这两只股票看起来都是长期投资的好选择</h2>
</div><p>Many investors have given up on Novo Nordisk this year -- it's down around 35% thus far in 2025 -- but that could be a costly mistake, given that it still has tremendous growth opportunities ahead. Compounded versions of its drugs have affected sales, but the U.S. government is cracking down on that. And if it offers coverage for GLP-1 weight loss drugs, the promising healthcare stock could be off to the races again. At a price-to-earnings multiple of just 14, Novo Nordisk shares bought today may prove to be a steal of a deal in the long run.</p>
<div class="lb-trans"><p>许多投资者今年已经放弃了诺和诺德——截至 2025 年，其股价下跌了约 35%——但这可能是一个代价高昂的错误，因为它仍然拥有巨大的增长机会。其药物的复合版本影响了销售，但美国政府正在对此进行打击。如果它为 GLP-1 减肥药物提供覆盖，这只前景看好的医疗保健股票可能会再次起飞。以仅 14 倍的市盈率，今天购买的诺和诺德股票在长期内可能会被证明是一个超值交易。</p>
</div><p>Eli Lilly is down 3% this year, and while it hasn't been in free fall like Novo Nordisk, it also looks like it may be a bit of an underrated buy. The stock trades at close to 50 times earnings, but future growth and larger profit margins could bring that multiple down significantly in the years ahead.</p>
<div class="lb-trans"><p>礼来今年下跌了 3%，虽然它没有像诺和诺德那样自由下跌，但看起来也可能是一个被低估的买入机会。该股票的市盈率接近 50 倍，但未来的增长和更大的利润率可能会在未来几年显著降低这一倍数。</p>
</div>

以下是诺和诺德公司和礼来公司为什么在今天仍可能是被严重低估的股票的原因