LLY - Thinking of Buying Madrigal Pharmaceuticals Stock? Eli Lilly Would Like to Have a Word.
2024-06-16 12:05:00 ET
If you're eyeing an investment in Madrigal Pharmaceuticals (NASDAQ: MDGL) , now's the time to imagine a representative of Eli Lilly (NYSE: LLY) interrupting your train of thought by saying something along the lines of, "Not so fast." While the biotech is undeniably ascendant after getting its first medicine approved for sale in mid-March, the pharma juggernaut is hot on its tail with a bid to compete in the same market.
And now, there's some new information that suggests the bigger player might win out in the end. Let's start by setting the stage for this looming competitive showdown and explore what it means for investors.
For those unaware, the United States Food and Drug Administration (FDA) has already approved tirzepatide for treating type-2 diabetes and obesity, which Eli Lilly commercialized under the trade names Mounjaro and Zepbound, respectively. Mounjaro is already a textbook example of a blockbuster drug , bringing in more than $1.8 billion in sales during Q1 alone, and Zepbound is practically guaranteed to reach blockbuster status within a few quarters.
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Thinking of Buying Madrigal Pharmaceuticals Stock? Eli Lilly Would Like to Have a Word.