Why Eli Lilly Stock Crawled Higher Today
Storied pharmaceutical company Eli Lilly (NYSE: LLY) eked out a win on the stock exchange Monday. The company's share price closed 1.2% higher on the day, edging past the 0.6% rise of the S&P 500 index. Investors were cheered by good news in a hot area of the industry, plus an analyst's price-target hike.
A survey conducted by healthcare insurer Accolade in collaboration with research firm Savanta indicated that the total number of American businesses covering weight-loss drugs is set to nearly double.
According to the results of the 502-respondent survey, 43% of those asked said they would include such medications in the healthcare coverage they provide for employees in 2024. That's quite a jump from the 25% that do so at present.
Source Fool.com
