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Why Eli Lilly Stock Flopped on Friday

TheMotleyFool

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Why Eli Lilly Stock Flopped on FridayPhoto, wide shot, wide-angle lens, Medical device manufacturer, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Michael Light: https://img.theapi.app/temp/3a7f6312-1eee-4702-9005-93cc1e62f970.png

Doubts about a high-profile new product dampened investor enthusiasm for Eli Lilly (NYSE: LLY) stock on Friday. The giant pharmaceutical company didn't have a good trading session, with sell-offs driving its price down by almost 4% over the course of the day.

The product in question is Eli Lilly's Foundayo, the company's first pill approved by the U.S. Food and Drug Administration (FDA) for weight loss. Hopes were high for the drug, particularly given the success of Zepbound, the obesity treatment administered by injection that's been a hot seller for the company.

Image source: Getty Images.

Source Fool.com

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