Eli Lilly obesity drug data shines, shares rise
April 28(Reuters) - Eli Lilly and Co (LLY.N) on Thursday said its potential blockbuster obesity drug achieved a goal of helping patients lose more than 20% of their weight in a late-stage clinical trial, and its shares rose about 3%.
The U.S. drugmaker also reported first-quarter earnings that topped Wall Street estimates.
<<Warning: the Reuters article, after the above quoted part, red herrings into a different (alzheimer) drug, … really sloppy editing/reporting, IMO.>>
Obesity is a euphemism for diabetes, metabolic syndrome and a web of interrelated and correlated conditions.
We know that obesity is a problem in the US, not only at the individual level, but also at the society and governmental levels, in both health and financial terms.
Jim Cramer says it could be a block buster.
A TA peek at a 5 year chart, suggests LLY is holding its share price quite well during these trying times.
Last November 2021*, the beginning of the current market woes, LLY share price was about $265-270, some fluctuations and today (after this obesity trial report), is $295isb, above both the 50dma and 200dma. MACD is turning up, RSI is neutral.
With all the official medical advice about obesity, the medical advice and miracle cures offered on informal pulp media and social media, the scammers, the gyms, the etc etc etc that push “lose weight”, Cramer might be correct?
Who doesn’t want to drop the gym memberships and let a pill do the heavy lifting?
*Here’s a 6 month chart.