LLY - Move Over Mounjaro. Eli Lilly Has Another Blockbuster in the Making
2024-05-04 08:30:00 ET
The pharmaceutical industry is currently experiencing something of a renaissance thanks to the rise of blockbuster medications called glucagon-like peptide-1 (GLP-1) agonists. Perhaps the most well-known GLP-1 drugs are diabetes medication Ozempic and obesity care treatment Wegovy. Danish pharmaceutical giant Novo Nordisk is the maker of both.
However, Eli Lilly (NYSE: LLY) is making a name for itself in the diabetes and chronic weight management markets. The company's flagship diabetes drug, Mounjaro, has been an enormous success since gaining approval from the Food and Drug Administration (FDA) in mid-2022.
While investors may not all realize it, Lilly also has another GLP-1 medication called Zepbound . Although it's only been on the market since November, initial results are encouraging.
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Move Over, Mounjaro. Eli Lilly Has Another Blockbuster in the Making