Eli Lilly Stock Jumps 2.7% to a New High

Tiger Newspress2023-08-14

Eli Lilly stock jumped 2.7% to a new high. The stock jumped more than 17% on strong earnings last week.

Eli Lilly raised its full-year guidance as second-quarter profit jumped 85% from the same period a year ago on strong sales from the pharmaceutical giant’s drug pipeline.

Importantly, Novo's news could help make the case for broader insurance coverage of GLP-1 drugs Wegovy and Mounjaro. These drugs mimic a gut hormone tied to feelings of satiety and how quickly the stomach empties itself. They can also improve markers of type 2 diabetes.

Mounjaro isn't yet approved in obesity treatment, though Lilly hopes to win that nod this year. Novo, on the other hand, sells its drug semaglutide as a weight-loss medicine called Wegovy. It also sells it as diabetes drugs Ozempic and Rybelsus.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

  • Slayer888
    2023-08-15
    Slayer888
    Always up for Eli Lilly 
Leave a comment
1