2023-11-19 06:05:00 ET
Just about every evening when I sit down for dinner and turn on the television, a series of commercials with catchy jingles grabs my attention. It's always the same ads, each promoting a treatment from a pharmaceutical company . The most recognizable commercials at this point are for Ozempic and Rybelsus, both of which are weight-loss supplements developed by Danish drug company Novo Nordisk .
However, Novo Nordisk isn't the only pharmaceutical company dominating the airwaves. Ozempic's top rival medication is Mounjaro, which is developed by Eli Lilly (NYSE: LLY) . While it's only been commercially available for about a year, Mounjaro has been a smashing success. The multibillion-dollar drug has been a major catalyst helping Lilly's stock rise over 60% so far this year, more than triple the return of the S&P 500 .
Even though its stock has had quite a run throughout 2023, the company just received a major approval from the Food and Drug Administration (FDA) that makes scooping up some shares now look compelling. Let's break down what Eli Lilly has in its pipeline and thoroughly assess its valuation . It may be that Mounjaro's party is just getting started, and that the long-term prospects for Lilly look too good to pass up.
For further details see:
Eli Lilly Just Got One Step Closer to Dethroning Ozempic. Time to Buy the Stock?