Topic: How To Invest

Power Growth Investor Hotline – Friday, November 1, 2024

Article Excerpt

ELI LILLY AND COMPANY, $818.93, is a buy. The drugmaker (symbol LLY on New York) discovers, develops, manufactures, and markets human pharmaceutical products. This week, Lilly’s shares fell to as low as $770 or so this week—before rebounding. However, they are still down about 9%. The decline came after the company reported its latest results—and that included slowing sales of its anti-obesity drug Zepbound and related diabetes drug Mounjaro. Still, overall sales and profits for Lilly were up strongly. In the three months ended September 30, 2024, Lilly’s revenue rose 20.4%, to $11.44 billion from $9.50 billion a year earlier. The gain came from much higher sales of Mounjaro and Zepbound, compared to a year ago. The year-earlier quarter also included $1.42 billion of revenue from the now-sold rights for the olanzapine portfolio (Zyprexa). Excluding revenue from the olanzapine portfolio, total revenue increased 42%, and non-incretin (Mounjaro and Zepbound) revenue increased 17%. Per-share earnings in the quarter jumped, to $1.18 from $0.10. The increase…