Things just keep compounding for Eli Lilly ($LLY) as their drug portfolio scores massive win after massive win.
A whole host of new data for Eli Lilly has pushed the stock nearly all the way to the price target we set a few months back, and we essentially have to set a new strategy thanks to a lot of critical advancements.
But the headline here is simple:
Eli Lilly has secured approval to use Mounjaro as a treatment for Obesity. LLY will release this drug by the end of the year under the brand name Zepbound.
This happened earlier than the market expected and was one of the critical catalysts for LLY to reach our previous price target! But now a whole host of new doors are opening for Eli Lilly and we can focus on the next battleground while we wait on a few other key approvals.
Eli Lilly chose a brilliant strategy when they jumped on the GLP-1 train, and their expanded development here will help them completely surpass Novo Nordisk in the GLP-1 arena despite Ozempic's massive first-mover advantage.
More importantly, Eli Lilly is one step closer to a lot more approvals that will give them an arsenal to attack chronic disease for years to come. While the stock is getting a little hot as people come to understand the opportunity, there are a lot more catalysts on the way that will diversify and de-risk LLY's new portfolio.
The details here keep compounding, so let's give you the most impactful ones. 👇