Key Stats for Eli Lilly Stock
- Price change for Eli Lilly stock in the last 6 months: 37%
- $LLY Stock Price as of Oct. 17: $1257
- 52-Week High: $1293
- $LLY Stock Price Target: $1328
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What Happened?
The European Medicines Agency’s committee recommended approval of Eli Lilly’s (LLY) weight-loss pill Foundayo on Friday, Reuters reports.
It is the second oral obesity drug to get the agency’s backing, and Novo Nordisk’s Wegovy pill was first.
The European Commission will now review the recommendation and give final approval. The agency backed the pill for weight management and for type 2 diabetes in adults.
Foundayo launched in the US in April and in the UK in August and reported $98 million in sales in Q2. Novo’s Wegovy pill made 3.22 billion Danish crowns ($484.50 million) in the same quarter.
Wegovy won EU approval in July.
Lilly and Novo are racing for a market expected to pass $100 billion by 2030, and pills could bring in patients who do not want injections.
Foundayo has one selling point as it can be taken any time of day, with no food or water rules. Wegovy has those limits.
Bernstein analyst Courtney Breen expects an EU obesity launch around year-end. For diabetes, she said timing depends on “member-state reimbursement.”
On the earnings call, Lilly said its biggest rollout outside the US will come in early 2027.
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What the Market Is Telling Us About Eli Lilly Stock
For Eli Lilly stock, this is a positive step, but US uptake has been slower than Wegovy. Reuters says it is unclear if the convenience is enough to drive broad use.
Lilly sees signs of a turn. Executives said weekly prescriptions nearly doubled by late July. The number of US prescribers grew from 8,000 to 36,000. About 1 in 4 new starts is now on Foundayo.
The core business is strong. Q2 revenue grew 48%, and Lilly raised its full-year guidance. Of the $98 million in Foundayo sales, $31 million came from the UAE, which shows demand outside the US.
Still, the pill is a small part of the story today. Mounjaro and Zepbound made $14.9 billion in Q2.
Eli Lilly stock depends mostly on those two drugs, while Foundayo is the longer-term growth bet.
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So what is Eli Lilly stock actually worth?
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Disclaimer:
Please note that the articles on TIKR are not intended to serve as investment or financial advice from TIKR or our content team, nor are they recommendations to buy or sell any stocks. We create our content based on TIKR Terminal’s investment data and analysts’ estimates. Our analysis might not include recent company news or important updates. TIKR has no position in any stocks mentioned. Thank you for reading, and happy investing!
