The pharmaceutical industry, particularly companies like Eli Lilly and Co. (LLY), has experienced significant volatility in recent days. LLY's stock price dropped to $700 before recovering to $745, reflecting a 25% decline over less than two weeks. This downturn is attributed to concerns over drug pricing. LLY's stock later rose by 3.4%. Amidst this backdrop, Viking Therapeutics Inc. (VKTX) is highlighted as a strong contender in the obesity treatment market, with upcoming Phase 2 oral data expected between late July and early August and Phase 3 subcutaneous (SubQ) trials starting this quarter. The CEO of VKTX has set expectations for the oral pill to achieve at least an 8% weight loss, with potential to exceed this target based on past performance where the stock hit $90+ post Phase 1 results last October. Other major pharmaceutical companies such as Johnson & Johnson (JNJ), Merck & Co. (MRK), and Pfizer Inc. (PFE) are also mentioned in the context of the broader market dynamics, though they are noted to be lagging behind in the obesity treatment race.