Eli Lilly CEO offers investors 3 more reasons to stick with the stock
Encouraging updates from Eli Lilly CEO Dave Ricks strengthen the bull case for the stock.
TL;DR
- Medicare coverage for obesity drugs has expanded the market, with around 700,000 seniors starting GLP-1 medications since July 1.
- Eli Lilly's Foundayo pill is capturing approximately one out of every three new starts in the oral obesity category and is growing week over week.
- Foundayo is expanding globally, with launches in several international markets and plans for many more in the next six months.
- Lilly is investing $6.5 billion in a new manufacturing facility in Houston, Texas, to produce the active ingredient for Foundayo.