This Unstoppable Growth Stock Just Announced More Good News: Is It a Buy?
Biotech giant Eli Lilly (NYSE: LLY) is firing on all cylinders. The company has scorched the broader market over the past year thanks to its rapidly growing revenue and important clinical and regulatory progress. However, the No. 1 reason Eli Lilly has been performing so well is tirzepatide, its clinical compound known as Mounjaro in the diabetes market, and Zepbound in the anti-obesity space.
Eli Lilly recently reported more positive news regarding this medicine. Let's find out what it was and what investors should make of it.
Sales projections for tirzepatide are incredible. Some analysts expect the medicine to hit peak annual revenue of $25 billion; Humira's yearly record was just $21.2 billion, and that's the best-selling therapy in the history of the pharmaceutical industry. But to reach its full potential, tirzepatide will have to earn plenty of new indications.
Source Fool.com
