Johnson & Johnson Is Walking Away From a $100 Billion Obesity Market. Could That Actually Make It the Better Long-Term Buy Than Eli Lilly?

Johnson & Johnson is deliberately avoiding the competitive GLP-1 weight-loss drug market, instead focusing on oncology and its medical device business where it has established strengths. This diversified strategy, combined with a lower valuation (P/E of 29x vs. Eli Lilly's 40x+) and higher dividend yield (2.1% vs. 0.6%), may make J&J a more attractive long-term investment despite missing out on the hot obesity drug trend.