(Bloomberg) -- Johnson & Johnson has no plans to start making weight-loss drugs because there’s already too much competition, according to Chief Executive Officer Joaquin Duato.

The company has enough on its plate, Duato said Tuesday at the firm’s investor day. J&J is instead focused on broadly expanding in areas such as neurology and oncology.

However, Duato didn’t completely shut the door on this new class of drugs. He said that if there’s an opportunity for J&J to differentiate itself in the market with an asset that is complementary to what the company does, it may reconsider.

Eli Lilly & Co. and Novo Nordisk A/S have already made deep inroads into the exploding market to treat obesity. Other rivals have jumped in more recently, with varying levels of success.

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