Billionaire Philippe Laffont Just Sold Top Artificial Intelligence Stocks Nvidia and AMD and Piled Into 2 Players Dominating Another High-Growth Billion-Dollar Industry

Laffont increased his position in Lilly by more than 19% and now holds 247,950 shares, and he lifted his position in Novo Nordisk by more than 800% and now owns 326,363 shares. Of course, these pharma players still represent a much smaller portion of Laffont’s portfolio than AI stocks, but his move shows he’s on the lookout for innovation and growth opportunities — and can find them — well beyond the tech industry.

Lilly and Novo Nordisk both have demonstrated they could be the right stocks to add growth to a portfolio now and into the coming years. Lilly is the seller of Mounjaro and Zepbound, while Novo Nordisk sells Ozempic and Wegovy — names many of us have heard in the news due to high demand for these products. They act on hormone pathways involved in the management of blood sugar levels and appetite, and as a result, they’ve delivered great results to patients aiming to lose weight. (Mounjaro and Ozempic are approved for type 2 diabetes, but doctors have prescribed them off-label for weight loss. Zepbound and Wegovy are specifically approved for weight control.)

These drugs have generated blockbuster revenue, and considering the level of demand and forecasts for market growth, this is likely to continue. On top of this, Lilly recently won approval for Zepbound in another indication — sleep apnea — opening the door to Medicare coverage. And Medicare covers Wegovy as a treatment to reduce heart attack or stroke risk. This is important because it increases the number of patients who can afford these drugs. (Medicare won’t reimburse drugs approved for weight loss alone.)

All of this means buying shares of these two big pharma players right now may have been a genius move by Laffont — and other investors looking for growth might want to do the same.

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Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Fool’s board of directors. John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Adria Cimino has positions in Amazon. The Motley Fool has positions in and recommends Advanced Micro Devices, Amazon, Meta Platforms, and Nvidia. The Motley Fool recommends Novo Nordisk. The Motley Fool has a disclosure policy.

Billionaire Philippe Laffont Just Sold Top Artificial Intelligence Stocks Nvidia and AMD and Piled Into 2 Players Dominating Another High-Growth Billion-Dollar Industry was originally published by The Motley Fool