Topic: How To Invest

Power Growth Investor Hotline – Friday, October 6, 2023

Article Excerpt

ELI LILLY AND COMPANY, $565.22, is a buy. The drugmaker (symbol LLY on New York) discovers, develops, manufactures, and markets human pharmaceutical products. Lilly is now buying Point Biopharma Global for $1.4 billion. The purchase carries some risk—Point is just weeks away from announcing the results of the closely watched trial of its most important medicine. Point develops radioligand therapies, which use radioactive atoms to precisely target cancers. It’s an area that has seen significant advancements in recent years, but it’s not one where Lilly has been active. Point is expected to announce data before the end of the year on a Phase 3 trial of its lead prostate cancer drug candidate, known as PNT2002. The highly anticipated results had been seen as a key test for the company. Investors had been waiting to see how PNT2002’s performance in the Phase 3 trial compares to the performance of a similar Novartis drug called Pluvicto, which will also have new data soon. Notably, the outlook for PNT2002’s…