LLY - Can This Red-Hot Stock Beat the Market Again in 2024?
2023-12-22 16:00:00 ET
Biotech giant Eli Lilly (NYSE: LLY) has been firing on all cylinders this year. The company's popularity rose along with weight-loss medicine, an area in which it's one of the leaders. Its financial results have been solid, and its stock performance has crushed that of the broader market.
Some might wonder whether they've missed the boat with this drugmaker. Can Eli Lilly pull off a similar performance in 2024?
Eli Lilly scored several approvals this year, including one for Omvoh in treating ulcerative colitis and another for cancer treatment Jaypirca. These approvals weren't the reason Eli Lilly crushed the market this year, but they probably didn't hurt. Next year, the biotech could launch yet another brand-new product, one much more promising than Jaypirca or Omvoh.
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Can This Red-Hot Stock Beat the Market Again in 2024?