Novo Trades at Hefty Discount to Lilly Even After 350% Rally [BNN Bloomberg (Canada)]
Eli Lilly and Company (LLY)
Last eli lilly and company earnings: 4/23 06:25 am
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Source: BNN Bloomberg
While analysts have cautioned that the stock's valuation is getting ahead of itself, its 30% discount to Eli Lilly & Co. suggests otherwise. The gap between the two looked set to widen further on Thursday, as fluctuating Novo shares fell as much as 3.6% before paring the drop. Lilly and Novo have been locked in a battle to dominate the weight-loss drug market, with both trying to boost output as demand outstrips supply. Both firms' quarterly results this week underlined their reliance on the success of medications such as Novo's Wegovy and Lilly's Zepbound. Read more: Novo Boosts Wegovy Supply as Lilly Rivalry Pressures Prices Ramping up production is a key element of Novo's strategy as it battles Lilly for supremacy in the sector. Improvements in supply could support better growth in the second half of the year, according to Bloomberg Intelligence. --With assistance from Blaise Robinson. ©2024 Bloomberg L.P.
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LLY
Earnings
- 4/30/24 - Beat
LLY
Sec Filings
- 5/9/24 - Form 8-K
- 5/3/24 - Form SD
- 4/30/24 - Form 10-Q
- LLY's page on the SEC website