LLY - Could Eli Lilly's Zepbound Become the World's Best-Selling Drug?
2024-02-12 05:03:00 ET
You may not expect a pharmaceutical stock to mimic the behavior of the latest hot growth stock and soar in the triple digits over 12 months. But Eli Lilly (NYSE: LLY) did it, climbing nearly 117% over the past year. This wasn't just a random happening, but instead evidence investors are very excited about what's to come for this pharma giant.
Lilly's portfolio is generating double-digit revenue growth, into the billions of dollars. And the products leading this are two that doctors have been prescribing for weight loss: Mounjaro and the recently approved Zepbound. While Mounjaro is approved uniquely for type 2 diabetes but used "off label" for weight loss, regulators recently gave Zepbound the nod specifically for chronic weight management.
The new product already has taken off, according to Lilly's recent earnings report, with more than $175 million in sales in its first few weeks on the market. Considering Mounjaro's track record in the weight loss community, the high-growth forecasts for the market, and explosive demand for weight loss drugs so far, could Lilly's Zepbound eventually become the world's best-selling drug? Let's find out.
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Could Eli Lilly's Zepbound Become the World's Best-Selling Drug?