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Billionaire Stanley Druckenmiller's Duquesne Family Office initiated a position in Rhythm Pharmaceuticals in the second quarter, betting on its rare obesity drug market.
Rhythm Pharmaceuticals (RYTM) focuses on treating rare forms of obesity caused by genetic disorders or damage to brain regions controlling hunger, a niche market currently untouched by giants like Eli Lilly and Novo Nordisk. The company's approved product, Imcivree, received a new indication approval in March this year for acquired hypothalamic obesity, quadrupling its potential market size.
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