LLY - Eli Lilly Has a New Drug That Could Push the Stock Higher
2024-06-20 14:25:00 ET
The stock of Eli Lilly (NYSE: LLY) , the world's largest pharmaceutical company, keeps reaching new all-time highs, largely off the back of its weight loss and diabetes drugs, Zepbound and Mounjaro.
Demand for these drugs, whose competitors include Novo Nordisk products Wegovy and Ozempic, has been so high that both firms have struggled to manufacture enough, resulting in shortages.
Eli Lilly's stock has risen 53% so far this year due to the incredible success of these products. However, the company is currently developing another drug that could send the stock price even higher.
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Eli Lilly Has a New Drug That Could Push the Stock Higher