Why Eli Lilly Stock Is Soaring Today, While Novo Nordisk and Viking Therapeutics Slide
Eli Lilly has a plan to dominate the GLP-1 weight loss drug market -- and it's succeeding.
It's Thursday morning, 11:50 a.m. ET -- and Eli Lilly (NYSE: LLY) stock is off to the races!
This morning, the Indianapolis-based pharmaceutical giant announced that its new GLP-1 weight loss pill, orforglipron, has "demonstrated statistically significant efficacy results and a safety profile consistent with injectable GLP-1 medicines in successful [ACHIEVE-1] Phase 3 trial."
Lilly shares are up 14.2% in response to the news, while shares of its rivals in the GLP-1 weight loss market, Novo Nordisk (NYSE: NVO) and Viking Therapeutics (NASDAQ: VKTX), are falling 7.1% and 1.7%, respectively.
