Buy: Lilly
Pharmaceuticals giant Lilly is now the world’s largest seller of GLP-1 drugs. Its two tirzepatide brands, Mounjaro and Zepbound, generated a staggering $27.7bn in sales during the first half of 2026, up 88% from last year. On top of the injectables, Lilly has just launched Foundayo, an orally administered GLP-1 tablet for people who prefer not to inject themselves. The benefits of these treatments go well beyond simply losing weight, with significant weight loss reducing the risk or severity of conditions such as sleep apnoea, cardiovascular disease and type 2 diabetes. Despite the extraordinary growth, penetration remains relatively low compared with the enormous potential market. Around three-quarters of US adults are overweight or obese. We see massive upside in sales of these wonder drugs and believe Lilly is a very attractive investment.
Sell: Domino’s Pizza
On the other side of that weighty equation, we would sell shares in Domino’s. It used to be one of the best-performing shares in the US but has gone sideways since 2021. GLP-1s reduce appetite and cravings, particularly for calorie-dense, processed foods. The early numbers are already interesting. Spending on pizza by households using GLP-1s falls by around 22% after six to eight months. As more people start using these drugs, saying no to cheap fast food should become a lot easier. That creates a significant long-term headwind for businesses like Domino’s. It seems likely that the GLP-1 revolution will produce some very clear winners and losers, and we reckon the Domino’s share price could fall just like … dominoes.
Lotter is a director at Vestact
