The Lifestyle Medicine Wave
Muratcan Koylan@muratcan
−0.8%
since Sep 30
The idea
I believe lifestyle medicine is turning into a real consumer market, drugs people want for weight loss, hair, aesthetics, not just need, and it is growing faster than traditional pharma. Rather than bet on one drugmaker, I spread it across four layers: the drugmakers, the telehealth storefronts turning prescriptions into subscriptions, the makers of the pens and needles every treatment needs, and the aesthetics names riding the same spend.
What it owns
- Companies making weight loss, aesthetic and anti-aging drugs that consumers pay for out of pocket because they want them, not because they must have them. · Eli LillyIts Zepbound is the leading weight loss drug at the center of this take, holding value as long as GLP-1 demand keeps growing and the company maintains its market position., Novo NordiskIts Wegovy and Ozempic pioneered weight loss as a consumer product, and it remains valuable as long as sales volumes grow each quarter across its portfolio., AbbVieIt owns Botox, the original drug people buy for appearance rather than necessity and pay for in cash, thriving as long as aesthetic spending keeps rising., AmgenIts obesity drug in development offers another way to own the next wave of GLP-1 treatments with lower entry cost, working as long as the pipeline advances., Viking TherapeuticsIts value rests almost entirely on obesity drug candidates in trials, making it the purest bet on whether the next generation of weight loss treatments succeeds.31%
- Online platforms and pharmacies that sell lifestyle prescriptions as consumer subscriptions and marketing campaigns, turning medical treatments into recurring purchases. · Hims & Hers HealthIt runs the storefront converting weight loss and sexual health prescriptions into consumer subscriptions, staying valuable as long as subscriber growth continues., GoodRx HoldingsIt profits when people pay cash for prescriptions instead of using insurance, which is exactly how lifestyle drugs get purchased by consumers., DoximityIt provides the marketing platform where drugmakers spend to reach doctors, capturing ad budgets inflated by the lifestyle drug wave., LifeMDIt operates telehealth weight loss programs that turn prescriptions into subscriptions, staying valuable as long as patient enrollment keeps climbing.22%
- Manufacturers of injector pens, syringes and components that every injectable lifestyle drug requires, making them essential regardless of which brand wins market share. · West Pharmaceutical ServicesIt makes the components inside injector pens and syringes that every dose requires, so it profits on volume growth regardless of which company's drug consumers choose., Becton DickinsonIt manufactures needles and injection devices at unmatched scale, making it the steadiest ownership of the manufacturing bottleneck across growing injectable drug volumes., Stevanato GroupIt manufactures the pens and syringes that GLP-1 drugmakers cannot ship without, winning value as long as injectable capacity keeps expanding.20%
- Makers of devices, implants and injectables that let people improve their appearance for cash, riding the same discretionary spending wave as weight loss and anti-aging drugs. · Align TechnologyIts Invisalign lets consumers pay out of pocket to improve their appearance, operating on the same vanity spending impulse that drives the entire take., InModeIt sells body-shaping and skin devices for clinics serving the same aesthetic market as Botox and weight loss shots, benefiting from rising discretionary appearance spending., Establishment LabsIt makes premium breast implants for consumers paying in cash for aesthetic procedures, thriving as long as demand for appearance enhancement keeps growing., EvolusIts Jeuveau is a Botox rival targeting younger cash-pay customers, winning value by taking share of the growing aesthetics injection market.19%
- Cash8%