Despite high market multiples, the Eli Lilly stock has outperformed the S&P 500 Health Care Index YTD, and this might just continue. Strong Q1 2024 performance leading to an upgraded guidance for the year is encouraging. The possible expansion of the remit of its diabetes and obesity treatments is another positive. The company's dividend growth is worth noting too, making it a continued good buy for the medium-to-long-term at the very least.
Eli Lilly has been working on a drug called donanemab to treat Alzheimer's disease. This market is estimated to reach more than $30 billion by the next decade.
Eli Lilly is partnering with OpenAI to help research antimicrobial resistance (AMR) treatments. Research suggests that AI in the healthcare market could be a $187 billion opportunity by 2030.
With global obesity numbers bursting at the seams, some of the smartest biotech stocks to buy are those with weight loss drugs. Just look at Eli Lilly (NYSE: LLY ).
Weight loss drugs have taken the pharmaceutical and medical communities by storm. Not only are the companies behind the medications struggling to keep up with global demand, but reports are emerging that the drugs could alleviate health problems beyond obesity.
Eli Lilly's shares have soared more than 50% this year to about $900. This level may discourage some investors from hitting the buy button.
In the most recent trading session, Eli Lilly (LLY) closed at $901.26, indicating a -0.37% shift from the previous trading day.
Drugmakers showed off data on weight loss and diabetes drugs. Also, Oracle announced the general availability of AI documentation assistant for doctors.
Eli Lilly is investing billions into additional capacity to ensure it's able to meet soaring demand for its products. Demand could accelerate even further if Mounjaro and Zepbound obtain approval for more indications.
Eli Lilly (LLY) said it is partnering with ChatGPT maker OpenAI to use artificial intelligence (AI) to develop new treatments to combat drug-resistant diseases.
Eli Lilly said on Tuesday it will collaborate with OpenAI to leverage its generative AI to develop antimicrobials that can be used to treat drug-resistant bacteria.
Founded in Indianapolis in 1876, Eli Lilly and Co. (LLY, Financial) is one of the world's top pharmaceutical companies. Its products are manufactured and distributed in more than 100 countries through facilities in the U.S., Europe and Asia.