Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
Thoughts on LLY. Their Q2 results appeared excellent but stock fell 14% which appears to primarily be a reaction to their results from the obesity pill trial where patients discontinued the trial due to adverse side effects and also lower efficacy compared to Novo Nordisk pill version. Does this pull back represent a good entry point for the long term or too hard basket?
Hi Scott,
We looked at LLY‘s update and subsequent plunge on Friday morning. The company’s experimental oral weight-loss pill, orforglipron, demonstrated a 12.4% average weight reduction over 72 weeks in a Phase 3 trial, falling short of Wall Street expectations and trailing rival Novo Nordisk’s oral medication, which achieved a 13.7% reduction. Despite meeting its primary endpoint and showing a favorable safety profile, the results led to a 14% drop in Eli Lilly’s stock price
LLY is a world class $US600mn business but this news is likely to weigh on sentiment through 2025 as its rivals look to take the lead in the growing GLP-1 industry.
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