Why Eli Lilly Stock Popped Today
Eli Lilly (NYSE: LLY) stock defied today's market downturn, rising 2.6% through 11:15 a.m. ET on the back of two positive press releases.In one, Lilly announced plans to acquire the farnesoid X receptor (FXR) program of clinical-stage biotech Organovo (NASDAQ: ONVO), including its lead asset, FXR314, a drug that aims to treat ulcerative colitis and metabolic dysfunction-associated steatohepatitis (MASH). In an unrelated announcement, Lilly said it has cut the price for 2.5-milligram and 5-mg vial doses of its Zepbound (tirzepatide) GLP-1 weight loss drug. Lilly also launched larger-dose vials of 7.5 mg and 10 mg, respectively, each costing $499 per one-month supply. Continue reading
Eli Lilly (NYSE: LLY) stock defied today's market downturn, rising 2.6% through 11:15 a.m. ET on the back of two positive press releases.
In one, Lilly announced plans to acquire the farnesoid X receptor (FXR) program of clinical-stage biotech Organovo (NASDAQ: ONVO), including its lead asset, FXR314, a drug that aims to treat ulcerative colitis and metabolic dysfunction-associated steatohepatitis (MASH).
In an unrelated announcement, Lilly said it has cut the price for 2.5-milligram and 5-mg vial doses of its Zepbound (tirzepatide) GLP-1 weight loss drug. Lilly also launched larger-dose vials of 7.5 mg and 10 mg, respectively, each costing $499 per one-month supply.
