Why Eli Lilly Stock Was Looking Sickly Today
One of the more popular stocks in the pharmaceutical sector of late got the cold shoulder from investors on Tuesday. Eli Lilly (NYSE: LLY) closed today's trading session down by almost 6% in value, which was notably worse than the 0.3% drop of the bellwether S&P 500 index. That decline wasn't necessarily Eli Lilly's fault, though.
Eli Lilly's recent popularity is due in no small measure to its plunge into the highly lucrative weight-loss drug market. In late 2023, its Zepbound -- essentially the same treatment as its diabetes drug Mounjaro -- was approved to treat obesity, and the company was off to the races.
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Source Fool.com
