Zepbound beats Wegovy for weight loss
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Eli Lilly and Company's stock dropped 11% after CVS's Zepbound exclusion, but analysts see a mispricing opportunity. Click for why LLY growth remains strong.
Eli Lilly & Co.’s shares dropped in morning trading after CVS Health Corp. announced a plan to drop its blockbuster weight-loss drug Zepbound, making rival Wegovy more widely available.The drugmaker also cut its full-year earnings outlook,
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Shares of Eli Lilly ( LLY -5.50%) are sliding on Thursday. The stock lost 8.3% as of 12:21 p.m. ET. The leg down comes as the S&P 500 ( ^GSPC -0.77%) gained 1% and the Nasdaq Composite ( ^IXIC -0.87%) gained 1.9%.