Eli Lilly (NYSE:LLY) Stock, Quote.Headers.trade-ideas

Eli Lilly

Eli Lilly is a drug firm with a focus on neuroscience, cardiometabolic, cancer, and immunology. Lilly's key products include Verzenio for cancer; Mounjaro, Zepbound, Jardiance, Trulicity, Humalog, and Humulin for cardiometabolic; and Taltz and Olumiant for immunology.

Eli Lilly and Co

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Editor’s note: This story has been updated to correct the spelling of Eli Lilly in the headline. 



A cooler-than-expected December producer inflation report failed to ignite lasting gains on Wall Street Tuesday, reflecting lingering concerns about persistently high inflation among investors.

Stocks Fail To Rise Despite Benign Producer Inflation, 30-Year Treasury Yields Hit 5%, Eli Lilly Tumbles: What&#39;s Driving Markets Tuesday? (CORRECTED)

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Eli Lilly expects 2024 revenue of $45.0 billion, reflecting a 32% increase, with strong contributions from Mounjaro and Zepbound. The 2025 outlook forecasts up to $61 billion.

Eli Lilly Cuts Q4 Revenue Guidance, Expects Around $5.5 Billion Sales From Weight Loss/Diabetes Drugs, Stock Tanks

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The U.S. stock market experienced mixed results on Tuesday. The Dow Jones index climbed over 220 points to 42,518.28, while the Nasdaq saw a decline of 0.2% to 19,044.39. The S&amp;P 500 showed modest gains. rising 0.1% to 5,842.91.
These are the top stocks that gained the attention of retail traders and investors throughout the day:
Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>).
Microsoft&#8217;s stock dipped by 0.36%, closing at $415.67. The stock reached an intraday high of $419.74 and a low of $410.72, with a 52-week range between $384.81 and $468.35. The tech giant <a href="https://www.benzinga.com/25/01/42980720/microsoft-taps-meta-veteran-to-lead-new-coreai-division-plans-shift-from-openai-dependence">announced a new engineering organization</a>, CoreAI—Platform and Tools, aimed at enhancing its AI capabilities. This division will integrate various teams to develop the end-to-end Copilot and AI stack, including GitHub Copilot.
Applied Digital Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APLD#NASDAQ">APLD</a>).
Applied Digital&#8217;s shares surged 9.98%, closing at $8.54. The stock hit an intraday high of $9.72 and a low of $8.25, with a 52-week range from $2.36 to $11.25. The company reported impressive fiscal second-quarter results, with revenue of $63.9 million, surpassing analyst expectations. The growth was largely driven by its&nbsp;<a href="https://www.benzinga.com/news/earnings/25/01/42990272/applied-digital-q2-earnings-revenue-beat-eps-beat-cloud-services-growth-late-stage-discussions-with-multiple-hyperscalers-and-more">Cloud Services</a>&nbsp;sector, which saw a 523% increase year-over-year.
Rigetti Computing Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RGTI#NASDAQ">RGTI</a>)
Rigetti Computing&#8217;s stock skyrocketed 47.93%, closing at $8.95. It reached an intraday high of $8.97 and a low of $6.56, with a 52-week range of $0.66 to $21.42. The <a href="https://www.benzinga.com/news/25/01/42978003/whats-going-on-with-rigetti-computing-rgti-stock-4">stock rebounded</a> after previous declines, following remarks by Nvidia and Meta executives about the timeline for quantum computing. Despite the uncertainty, Rigetti&#8217;s shares saw a significant boost, reflecting investor optimism in its potential.
Eli Lilly and Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>)
Eli Lilly&#8217;s shares fell 6.59%, closing at $744.91. The stock had an intraday high of $784.23 and a low of $729, with a 52-week range of $612.7 to $972.53. The company reduced its fourth-quarter revenue guidance, expecting $13.5 billion, below previous estimates. Despite this, Eli Lilly anticipates strong sales from its&nbsp;<a href="https://www.benzinga.com/25/01/42976923/eli-lilly-expects-around-55-billion-sales-from-weight-lossdiabetes-drugs-with-overall-topline-growth-of-32-issues-2025-forecast">weight loss and diabetes drugs</a>.
Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)
Tesla&#8217;s stock decreased by 1.72%, closing at $396.36. It reached an intraday high of $422.64 and a low of $394.54, with a 52-week range from $138.80 to $488.54. The company saw a rise in Cybertruck sales, with nearly 39,000 units sold in 2024. However, this success came at the expense of its luxury Model S and X sales, which saw significant declines. The data highlights the impact of the <a href="https://www.benzinga.com/25/01/42967593/cybertruck-sales-rise-in-2024-weighed-down-on-tesla-model-s-deliveries-in-us-shows-data">Cybertruck&#8217;s popularity</a> on Tesla&#8217;s overall sales strategy.
Prepare for the day&#8217;s trading <a href="https://editorial.benzinga.com/wp-admin/Premarket%20Movers%20&amp;%20News">with top premarket movers and news</a> by Benzinga.
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

Microsoft, Applied Digital, Rigetti Computing, Eli Lilly, Tesla: Why These 5 Stocks Are On Investors' Radars Today

Editor&#8217;s note: This story has been updated to correct the spelling of Eli Lilly in the headline. 
A cooler-than-expected December producer inflation report failed to ignite lasting gains on Wall Street Tuesday, reflecting lingering concerns about persistently high inflation <a href="https://www.benzinga.com/topic/inflation">among investors</a>.
Early session advances across major indices faded into modest losses by midday trading in New York, as market participants exercised caution ahead of Wednesday's pivotal Consumer Price Index report and key fourth-quarter earnings from top Wall Street banks.
The Producer Price Index rose 3.3% year-over-year in December, accelerating from November's 3% increase but missing the 3.4% forecast. On a monthly basis, producer prices climbed 0.2%, slowing from November's 0.4% rise and falling short of the 0.3% <a href="https://www.benzinga.com/economics/macro-economic-events/25/01/42974739/wall-street-rebounds-as-producer-inflation-misses-estimates-tesla-gains-chinese-stocks-rally">consensus estimate</a>.
Core PPI, which excludes volatile food and energy prices, increased 3.5% annually, matching November's pace but undershooting expectations of 3.8%. On a month-to-month basis, core inflation stagnated, showing zero growth compared to November's 0.2% increase, and coming in below forecasts for a 0.3% gain.
Bond yields continued to climb, underscoring persistent inflationary pressure. The 30-year Treasury yield advanced to 5%, its highest level since October 2023 and marking territory not seen since August 2007.
After a three-day rally, crude oil prices cooled. West Texas Intermediate fell 1% to $78 per barrel, as investors locked in recent gains.
Utilities and financials emerged as the session's strongest performers, while healthcare stocks were the largest drag on the market. Eli Lilly &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>) plummeted 7.5% after the company issued a weaker-than-expected fourth-quarter sales forecast for its weight-loss drug Zepbound.
Peer Novo Nordisk A/S (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVO#NYSE">NVO</a>) slid 5% in sympathy.
CEO Dave Ricks revealed that Eli Lilly anticipates regulatory approval for its oral weight-loss treatment, orforglipron, by 2026, with pivotal data expected in mid-2025. 
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) rose 1.5% on Tuesday, bouncing back after three days of largely flat trading.
<h3 class="wp-block-heading">Tuesday&#8217;s Performance In Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,194.61</td>
<td>0.0%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>42,241.81</td>
<td>-0.1%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,818.04</td>
<td>-0.3%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>20,704.24</td>
<td>-0.4%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:30 p.m. ET</figcaption></figure>
According to&nbsp;<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent010625&amp;t=be2bearmibe3na1" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>&nbsp;data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) eased 0.4% to $579.14.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;inched 0.2% down to $422.07.</li>
<li>The tech-heavy&nbsp;Invesco QQQ Trust Series&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) fell 0.6% to $502.89.</li>
<li>The&nbsp;iShares Russell 2000 ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) inched 0.1% higher to $217.45.</li>
<li>The&nbsp;Utilities Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>) outperformed, up 0.8%; the&nbsp;Health Care Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLV#NYSE">XLV</a>) lagged, down 1.8%.</li>
</ul>
<h3 class="wp-block-heading">Tuesday&#8217;s Stock Movers</h3>
<ul>
<li>Chinese stocks rallied amid regulatory reassurance on markets. Shares of JD.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JD#NASDAQ">JD</a>) rose 4.6%, followed by gains in Baidu Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIDU#NASDAQ">BIDU</a>) and PDD Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PDD#NASDAQ">PDD</a>), up 2.5% and 2.2%, respectively. </li>
<li>Boeing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) fell over 3% after announcing on Tuesday that it delivered 57 commercial aircraft in the fourth quarter of 2024, a sharp decline from 116 deliveries in the previous quarter. </li>
</ul>
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Stocks Fail To Rise Despite Benign Producer Inflation, 30-Year Treasury Yields Hit 5%, Eli Lilly Tumbles: What's Driving Markets Tuesday? (CORRECTED)

On Tuesday, Eli Lilly and Co (NYSE:&nbsp;LLY) announced that it expects 2024 full-year worldwide revenue to be approximately&nbsp;$45.0 billion, representing a 32% growth compared to the previous year versus the <a target="_blank" href="https://www.benzinga.com/pro/feature/newsfeed" rel="noreferrer noopener">consensus of $45.50 billion</a>.
Eli Lilly expects fourth-quarter 2024 revenue of approximately&nbsp;$13.5 billion, representing a 45% year-over-year growth compared to the <a target="_blank" href="https://www.benzinga.com/pressreleases/25/01/n42973698/lilly-provides-update-on-2024-revenue-guidance-announces-2025-revenue-guidance" rel="noreferrer noopener">consensus of $13.97 billion</a>.
The company&#8217;s expected 2024 revenue is&nbsp;$400 million, or about 3%, below the guidance range issued during the <a target="_blank" href="https://www.benzinga.com/general/biotech/24/10/41622207/eli-lilly-q3-earnings-mounjaro-sales-more-than-double-takes-2-98-billion-hit-to-profit-cuts-annua" rel="noreferrer noopener">third-quarter earnings</a>. The guidance includes approximately&nbsp;$3.5 billion&nbsp;for Mounjaro and $1.9 billion&nbsp;for Zepbound.
Also Read: <a target="_blank" href="https://www.benzinga.com/25/01/42949261/eli-lilly-scoops-up-scorpion-therapeutics-early-stage-cancer-program-for-25-billion" rel="noreferrer noopener">Eli Lilly Scoops Up Scorpion Therapeutics&#8217; Early-Stage Cancer Program For $2.5 Billion</a>
In addition to the uptake of Mounjaro and Zepbound, Lilly saw a strong performance in its oncology, immunology, and neuroscience medicines in the fourth quarter. In total,&nbsp;non-incretin revenue grew by 20% year-over-year.
&#8220;While the U.S. incretin market grew 45% compared to the same quarter last year, our previous guidance had anticipated even faster acceleration of growth for the quarter. That, in addition to lower-than-expected channel inventory at year-end, contributed to our Q4 results. We continued to make progress on our manufacturing build-out, and U.S. supply across all doses of tirzepatide was available throughout Q4,&#8221; said&nbsp;David Ricks, Lilly chair and CEO. &#8220;The rest of our medicines performed within our expectations.&#8221;&nbsp;
&#8220;We&#8217;ll also bring additional manufacturing capacity online and expect to produce at least 60% more salable doses of incretins in the first half of the year compared to the first half of 2024,&#8221; Ricks added.
The company also shared 2025 revenue guidance, anticipating sales between&nbsp;$58.0 billion&nbsp;and&nbsp;$61.0 billion compared to the consensus of $58.6 billion.
Lilly anticipates revenue growth contributions in 2025 from new Lilly medicines such as Jaypirca, Ebglyss, Omvoh&nbsp;and Kisunla; approvals of new indications for existing Lilly medicines; launches of Mounjaro in additional worldwide markets, as well as potential launches of new medicines such as imlunestrant for metastatic breast cancer. Incretin market and channel dynamics have been factored into the 2025 revenue guidance range.
Price Action: LLY stock is down 8.03% at $775.10&nbsp;at the last check on Tuesday.
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</ul>
Photo by Jonathan Weiss via Shutterstock

WIIM

Eli Lily shares are trading lower after the company issued FY24 revenue guidance below the previous estimate.

Eli Lilly Expects 2024 Revenue of $45.0B, About 3% Below Guidance Range Issued On Oct. 30; Issues 2025 Guidance of $58.0B-$61.0B

<a href="https://www.bloomberg.com/news/articles/2025-01-13/lilly-asks-biden-administration-to-pause-drug-price-negotiations?srnd=homepage-europe">https://www.bloomberg.com/news/articles/2025-01-13/lilly-asks-biden-administration-to-pause-drug-price-negotiations?srnd=homepage-europe</a>
&nbsp;
Drugmaker Eli Lilly &amp; Co. has asked the US government to pause its forward march with drug-price negotiations, potentially thwarting the Biden administration's plans to release a new list of drug targets before leaving office next week.&nbsp;

Politics

'Lilly Asks Biden Administration to Pause Drug-Price Negotiations' - Bloomberg News

<a href="https://www.bloomberg.com/news/articles/2025-01-13/lilly-sees-new-weight-loss-pill-approval-in-early-2026-ceo-says?srnd=homepage-europe">https://www.bloomberg.com/news/articles/2025-01-13/lilly-sees-new-weight-loss-pill-approval-in-early-2026-ceo-says?srnd=homepage-europe</a>
&nbsp;
Eli Lilly &amp; Co. is projecting approval of its experimental weight-loss pill as soon as early 2026, Chief Executive Officer Dave Ricks said, one of several in a new generation of the popular drugs.&nbsp;

'Lilly Sees New Weight-Loss Pill Approval in Early 2026, CEO Says' - Bloomberg News

On Monday, Eli Lilly And Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>) agreed to acquire Scorpion Therapeutics, Inc&#8217;s PI3Kα inhibitor <a target="_blank" href="https://www.benzinga.com/pressreleases/25/01/n42945183/lilly-to-acquire-scorpion-therapeutics-mutant-selective-pi3k-inhibitor-program" rel="noreferrer noopener">program STX-478</a>.
STX-478 is a once-daily oral, mutant-selective PI3Kα inhibitor currently being evaluated in a Phase 1/2 clinical trial for breast cancer and other advanced solid tumors.&nbsp;
Additionally, as part of the transaction, the privately-held Scorpion will spin out a new entity to hold its employees and non-PI3Kα&nbsp;pipeline assets.
Also Read: <a target="_blank" href="https://www.benzinga.com/general/biotech/25/01/42901177/obesity-treatments-ma-activity-to-take-center-stage-during-upcoming-jpm-healthcare-conference" rel="noreferrer noopener">Obesity Treatments, M&amp;A Activity To Take Center Stage During Upcoming JPM Healthcare Conference</a>
The new, independent company would be owned by Scorpion&#8217;s current shareholders, with Lilly holding a minority equity interest.
The new company will be led by members of the current Scorpion management team.
The Financial Times report <a target="_blank" href="https://www.ft.com/content/fdd081b7-4ae3-4160-a246-a0afe1b86df2" rel="noreferrer noopener">added</a> the proposed deal is a part of Eli Lilly&#8217;s strategy to reinvest profits from its successful diabetes and obesity drugs, Mounjaro and Zepbound, into expanding its drug pipeline.
Under the terms of the agreement, Lilly will acquire Scorpion, and Scorpion shareholders could receive up to $2.5 billion in cash. Up to $1 billion will be paid upfront, with an additional $1.5 billion contingent on meeting specific performance milestones.
Price Action: Eli Lilly stock is down 1.55% at $787.49 at last check Monday.
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Image: Shutterstock

Asset Sales

Eli Lilly Scoops Up Scorpion Therapeutics' Early-Stage Cancer Program For $2.5 Billion

The acquisition will expand Lilly's oncology pipeline with STX-478, the differentiated and potentially best-in-class, mutant-selective PI3Kα inhibitor currently in a Phase 1/2 clinical trial
STX-478 could potentially address 30-40% of people with hormone-positive breast cancer, building on Lilly's advancements against this disease

Eli Lilly To Acquire Scorpion Therapeutics' Nutant-selective PI3Kα Inhibitor Program; Scorpion Shareholders Could Receive Up To $2.5M In Cash

<a href="https://www.ft.com/content/fdd081b7-4ae3-4160-a246-a0afe1b86df2" title="https://www.ft.com/content/fdd081b7-4ae3-4160-a246-a0afe1b86df2">https://www.ft.com/content/fdd081b7-4ae3-4160-a246-a0afe1b86df2</a>

"Eli Lilly In Advanced Talks To Buy U.S. Cancer Biotech For Up To $2.5B; Scorpion's Drug Candidate Inhibits A Mutation That Is A Major Driver Of Breast, Gynaecological And Head And Neck Cancers" - Financial Times

Alchemab's technology platform uses patient samples from individuals with unusually slow rates of disease progression to identify antibodies associated with resilience.&nbsp;
&nbsp;

Contracts

On Thursday, Alchemab Therapeutics Entered A Collaboration With Eli Lilly To Discover, Develop, And Commercialize Up To Five Therapeutics For Amyotrophic Lateral Sclerosis; Alchemab Will Receive An Undisclosed Upfront Payment And Is Eligible To Receive Milestone Payments, Plus Royalties

According to JP Morgan, U.S. large-cap biopharma stocks have underperformed the broader market for two consecutive years, with mixed sentiment shaping <a target="_blank" href="https://www.benzinga.com/24/12/42638844/large-biopharma-lags-market-jp-morgans-2025-outlook-on-eli-lilly-merck-and-more" rel="noreferrer noopener">investor outlook for 2025</a>.
Despite strong fundamentals and advancements in drug pipelines, factors such as political uncertainty and sector rotation have hindered the sector&#8217;s performance relative to the S&amp;P 500.
In 2024, biopharma stocks rose by 9.6%, falling short of the S&amp;P 500&#8217;s 28.5% surge. However, JP Morgan analysts maintain a positive outlook for several key players.
Ahead of the 2025 JPM Healthcare Conference, JP Morgan highlights some investor expectations as sentiment remains mixed for the US Large Cap BioPharma group heading into 2025. The conference is scheduled between 13 January and 16 January.
Obesity is expected to remain a major focus for the industry. The sector&#8217;s focus on the below advancements highlights the growing importance of obesity treatments and related drug innovations:
<ul>
<li>Eli Lilly And Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>): Increased emphasis on incretin therapies as production capacity grows and direct-to-consumer advertising gains traction. Key data catalysts: Phase 3 results for orforglipron, an oral <a href="https://www.benzinga.com/general/biotech/23/07/33339766/ozempic-alternatives-these-two-drugs-show-promise-in-affordability-and-effectiveness-for-weight-l" target="_blank" rel="noreferrer noopener">small molecule GLP-1</a>.</li>
<li>Initial outcomes data for tirzepatide <a href="https://www.benzinga.com/general/biotech/24/08/40460727/eli-lillys-famed-obesitydiabetes-treatment-tirzepatide-shows-potential-to-cut-risk-of-developing-" target="_blank" rel="noreferrer noopener">in type 2 diabetes</a>.</li>
</ul>
Several new product launches are on the radar for 2025. Bristol Myers Squibb &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>) stands out as a top pick, with the anticipated launch of <a target="_blank" href="https://www.benzinga.com/general/biotech/24/09/41064867/schizophrenia-treatment-revolution-fda-approves-bristol-myers-squibb-cobenfy-as-new-class-of-trea" rel="noreferrer noopener">Cobenfy for schizophrenia</a>.
JP Morgan analyst Chris Schott expects a strong adoption once broader insurance coverage, expected by the second half of 2025, is in place.
Gilead Sciences Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GILD#NASDAQ">GILD</a>) is also preparing for a mid-2025 launch of lenacapavir for pre-exposure prophylaxis, with promising uptake <a target="_blank" href="https://www.benzinga.com/24/12/42468692/gilead-unveils-new-yearly-hiv-injection-to-offer-hope-for-less-frequent-preventive-dosing" rel="noreferrer noopener">projected into 2026</a>.
Additionally, JP Morgan is monitoring Merck &amp; Co Inc&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRK#NYSE">MRK</a>) Winrevair for pulmonary arterial hypertension, which has already <a target="_blank" href="https://www.benzinga.com/25/01/42768614/uk-approves-mercks-hypertension-drug-acquired-via-11-billion-acceleron-pharma-deal" rel="noreferrer noopener">exceeded early expectations</a>, and Gilead&#8217;s Livdelzi for primary biliary cholangitis, expected to see more significant growth in 2025 <a target="_blank" href="https://www.benzinga.com/general/biotech/24/11/42016935/gilead-unveils-long-term-data-from-seladelpar-in-patients-with-rare-liver-disease" rel="noreferrer noopener">as access improves</a>.
The analyst is watching for updates on how companies are approaching business development after a relatively quiet 2024. While major changes are not anticipated in the size or type of deals pursued by large-cap companies, JP Morgan expects M&amp;A activity to pick up in 2025.
Large deals over $25 billion remain unlikely, with mid-sized deals around $5-15 billion likely to focus on later-stage, lower-risk assets.
Read Next:
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Image via Shutterstock

Analyst Ratings

AMGN

GILD

REGN

Obesity Treatments, M&A Activity To Take Center Stage During Upcoming JPM Healthcare Conference

Medicare drug plans can now cover Eli Lilly And Co's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>) popular obesity drug, Zepbound (tirzepatide) when prescribed for obstructive sleep apnea, which affects breathing while sleeping.
This change could expand access to Zepbound, which is not yet widely covered by Medicare or other insurance plans for weight loss.
In December, the FDA approved Zepbound as the first and only prescription medicine for adults with moderate-to-severe obstructive sleep <a target="_blank" href="https://www.benzinga.com/pressreleases/24/12/n42630164/fda-approves-zepbound-tirzepatide-as-the-first-and-only-prescription-medicine-for-moderate-to-seve" rel="noreferrer noopener">apnea (OSA) and obesity</a>.&nbsp;
It should be used with a reduced-calorie diet and increased physical activity.
In SURMOUNT-OSA phase 3 trials, tirzepatide achieved all primary and key secondary endpoints for both the efficacy&nbsp;and treatment-regimen&nbsp;estimands and demonstrated a mean reduction of up to 62.8% on the apnea-hypopnea index (AHI), or about 30 fewer events restricting or blocking a person's airflow per hour of sleep, <a target="_blank" href="https://www.benzinga.com/general/biotech/24/06/39454632/eli-lillys-zepbound-for-weight-loss-shows-disease-resolution-in-obese-sleep-apnea-patients-lays-f" rel="noreferrer noopener">compared to placebo</a>.
A Centers for Medicare &amp; Medicaid Services (CMS) spokesperson <a target="_blank" href="https://www.cnbc.com/2025/01/08/medicare-can-now-cover-eli-lillys-zepbound-for-sleep-apnea-cms-says.html" rel="noreferrer noopener">told</a> CNBC that Medicare Part D can only cover obesity drugs if they are FDA-approved for another medically accepted use.
The spokesperson noted that prior authorization might be required to ensure the drug is prescribed for the approved condition.
Medicaid coverage for Zepbound varies by state, depending on its prescribed use and whether the manufacturer has signed a Medicaid drug rebate agreement. Under this agreement, drugmakers provide rebates to states in exchange for Medicaid coverage, with states sharing the rebates with the federal government.
In November, the Biden-Harris Administration proposed expanding Medicare and Medicaid coverage for anti-obesity medications to address the high costs <a target="_blank" href="https://www.benzinga.com/general/biotech/24/11/42192091/biden-proposes-medicare-medicaid-access-for-popular-weight-loss-drugs" rel="noreferrer noopener">that have drawn criticism</a>.
The proposed rule seeks to make these treatments more accessible, benefiting an estimated 3.4 million Medicare recipients and 4 million Medicaid enrollees. For some, the expanded coverage could cut out-of-pocket expenses by up to 95%.
The President of the United States, Joe Biden, and Sen. Bernie Sanders, the Senate Chairman of the Health, Education, Labor, and Pensions Committee, have long been vocal about the exorbitant prices the pharmaceutical industry charges for prescription drugs in the U.S.
Americans pay the highest prices globally for essential medications, with one in four unable to afford the prescriptions their doctors recommend. Biden said the argument that high domestic prices subsidize fair prices <a target="_blank" href="https://www.benzinga.com/general/biotech/24/07/39600377/joe-biden-suggests-novo-nordisk-eli-lilly-to-lower-prices-for-its-popular-obesity-drugs" rel="noreferrer noopener">abroad is unacceptable</a>.
Price Action: LLY stock closed at $773.29 on Wednesday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/25/01/42894417/kkr-extends-tender-offer-for-fuji-soft-amid-bain-capitals-hostile-bid" target="_blank" rel="noreferrer noopener">KKR Extends Tender Offer For FUJI SOFT Amid Bain Capital's Hostile Partial Bid</a></li>
</ul>
Photo by Ciara Kimsey via Shutterstock

Government

Medicare To Cover Eli Lilly's Weight Loss Drug Zepbound For Obstructive Sleep Apnea Treatment

<a href="https://www.cnbc.com/2025/01/08/medicare-can-now-cover-eli-lillys-zepbound-for-sleep-apnea-cms-says.html">https://www.cnbc.com/2025/01/08/medicare-can-now-cover-eli-lillys-zepbound-for-sleep-apnea-cms-says.html</a>
<ul>
<li>Medicare drug plans can now cover Eli Lilly's blockbuster obesity drug Zepbound for obstructive sleep apnea, the Centers for Medicare &amp; Medicaid Services confirmed to CNBC.</li>
<li>That opens the door for broader coverage of and access to Zepbound, which is not currently covered by Medicare and many other insurance plans for weight loss specifically.</li>
<li>Medicare Part D plans can cover obesity drugs if they are used for an additional medically accepted purpose approved by the Food and Drug Administration.</li>
</ul>
Medicare drug plans can now cover <a href="https://www.cnbc.com/quotes/LLY/">Eli Lilly</a>'s blockbuster obesity drug <a href="https://zepbound.lilly.com/">Zepbound</a> for <a href="https://www.cnbc.com/2024/12/20/fda-approves-eli-lillys-weight-loss-drug-zepbound-for-sleep-apnea.html">obstructive sleep apnea</a>, CNBC confirmed on Wednesday.&nbsp;
That opens the door for broader access to Zepbound, which is not currently covered by Medicare and many other insurance plans for weight loss. Demand for the injection has soared over the last year despite its roughly <a href="https://pricinginfo.lilly.com/zepbound">$1,000 price tag</a> before insurance.
&nbsp;
In a statement to CNBC, a spokesperson for the Centers for Medicare &amp; Medicaid Services said "current Medicare Part D and Medicaid coverage rules apply" to Zepbound following its <a href="https://investor.lilly.com/news-releases/news-release-details/fda-approves-zepboundr-tirzepatide-first-and-only-prescription">landmark approval</a> last month for the most common sleep-related breathing disorder.
Medicare Part D plans can only cover obesity drugs if they are used for an <a href="https://www.cnbc.com/2024/03/21/medicare-can-cover-weight-loss-drugs-if-used-for-added-health-benefit.html">additional medically accepted purpose</a> approved by the Food and Drug Administration, the CMS spokesperson said, referring to the agency's <a href="https://aspe.hhs.gov/sites/default/files/documents/127bd5b3347b34be31ac5c6b5ed30e6a/medicare-coverage-anti-obesity-meds.pdf">guidance</a>. The spokesperson added that Part D plans may consider using prior authorization – a process where a provider must first get approval from an insurer – for those drugs to ensure they are being used for that specific purpose.&nbsp;
The FDA on Dec. 20 cleared Zepbound for patients with obesity and moderate-to-severe forms of obstructive sleep apnea, or OSA, which refers to breathing interrupted during sleep due to narrowed or blocked airways. That made Zepbound the first drug treatment cleared for the estimated 20 million people with those forms of the disease, according to Eli Lilly.
Medicare Part D plans are similarly allowed to cover <a href="https://www.cnbc.com/quotes/NVO/">Novo Nordisk</a>'s weight loss drug Wegovy for its <a href="https://www.prnewswire.com/news-releases/wegovy-receives-fda-approval-for-cardiovascular-risk-reduction-in-adults-with-known-heart-disease-and-overweight-or-obesity-302084454.html">other approved use</a> of lowering cardiovascular risks.&nbsp;The diabetes counterparts of Wegovy and Zepbound – Ozempic and Mounjaro, respectively – are covered by Medicare and most insurance plans.&nbsp;
Both Novo Nordisk and Eli Lilly are studying their weight loss medicines as treatments for fatty liver disease, chronic kidney disease, sleep apnea and more. To be covered, those drugs would need to return late-stage trial results and then be submitted for FDA approval for those uses.
&nbsp;
Meanwhile, state Medicaid coverage for Zepbound and other obesity medications depends on what condition they are prescribed for and whether their manufacturer has signed a certain <a href="https://www.medicaid.gov/medicaid/prescription-drugs/medicaid-drug-rebate-program/index.html#:~:text=The%20Medicaid%20Drug%20Rebate%20Program,drugs%20dispensed%20to%20Medicaid%20patients.">Medicaid drug rebate agreement</a>, according to the spokesperson.&nbsp;
Under that agreement with the secretary of Health and Human Services, manufacturers agree to provide rebates to states in exchange for Medicaid coverage of their drugs. States share the rebates with the federal government.&nbsp;
A state Medicaid program must cover Zepbound if it is prescribed for OSA and Eli Lilly has signed the Medicaid drug rebate agreement, the spokesperson said.&nbsp;
But if Zepbound is prescribed for weight loss, state Medicaid programs are not required to cover it.&nbsp;
The Biden administration in November <a href="https://www.nbcnews.com/health/health-news/biden-proposes-requiring-medicare-medicaid-cover-weight-loss-drugs-rcna181756">proposed</a> a rule that would allow Medicare and Medicaid to cover weight loss drugs for patients with obesity. The rule would give millions of people access to weekly injectables, but it would cost taxpayers as much as $35 billion over the next decade.
It is unclear if President-elect Donald Trump's administration will pursue the rule.

'Medicare Can Now Cover Eli Lilly's Zepbound For Sleep Apnea, CMS Says' - CNBC

Investors with a lot of money to spend have taken a bullish stance on Eli Lilly (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>).
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with LLY, it often means somebody knows something is about to happen.
So how do we know what these investors just did? 
Today, <a href="https://pro.benzinga.com/?utm_source=insights">Benzinga</a>'s options scanner spotted 14 uncommon options trades for Eli Lilly.
This isn't normal.
The overall sentiment of these big-money traders is split between 50% bullish and 21%, bearish.
Out of all of the special options we uncovered, 6 are puts, for a total amount of $810,104, and 8 are calls, for a total amount of $355,436.
<h3>Predicted Price Range</h3>
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $330.0 to $960.0 for Eli Lilly during the past quarter. 
<h3>Volume &amp; Open Interest Trends</h3>
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Eli Lilly's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Eli Lilly's whale trades within a strike price range from $330.0 to $960.0 in the last 30 days. 
<h3>Eli Lilly Option Activity Analysis: Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1736261134_0.png" alt="Options Call Chart" />
<h3>Largest Options Trades Observed:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th align="right">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>LLY</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/15/27</td>
<td>$75.9</td>
<td>$73.5</td>
<td>$73.5</td>
<td>$670.00</td>
<td>$514.5K</td>
<td>98</td>
<td align="right">70</td>
</tr>
<tr>
<td>LLY</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>04/17/25</td>
<td>$14.3</td>
<td>$14.0</td>
<td>$14.3</td>
<td>$900.00</td>
<td>$357.5K</td>
<td>222</td>
<td align="right">250</td>
</tr>
<tr>
<td>LLY</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>12/18/26</td>
<td>$73.1</td>
<td>$65.6</td>
<td>$71.0</td>
<td>$670.00</td>
<td>$142.0K</td>
<td>119</td>
<td align="right">20</td>
</tr>
<tr>
<td>LLY</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$435.0</td>
<td>$430.0</td>
<td>$435.0</td>
<td>$330.00</td>
<td>$87.0K</td>
<td>94</td>
<td align="right">2</td>
</tr>
<tr>
<td>LLY</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$109.1</td>
<td>$104.25</td>
<td>$105.29</td>
<td>$800.00</td>
<td>$52.6K</td>
<td>1.6K</td>
<td align="right">5</td>
</tr>
</tbody>
</table>

<h3>About Eli Lilly</h3>
Eli Lilly is a drug firm with a focus on neuroscience, cardiometabolic, cancer, and immunology. Lilly's key products include Verzenio for cancer; Mounjaro, Zepbound, Jardiance, Trulicity, Humalog, and Humulin for cardiometabolic; and Taltz and Olumiant for immunology.
<h3>Current Position of Eli Lilly</h3>
<ul>
<li>With a trading volume of 194,553, the price of LLY is up by 0.26%, reaching $767.07.</li>
<li>Current RSI values indicate that the stock is may be approaching oversold.</li>
<li>Next earnings report is scheduled for 30 days from now.</li>
</ul>
<h3>What Analysts Are Saying About Eli Lilly</h3>
A total of 1 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $997.0.
Turn $1000 into $1270 in just 20 days?
20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. <a href="https://www.benzinga.com/premium/ideas/options-moneyline-2/?t=Moop1arja3be22op14&amp;utm_source=benzinga-insights">Click here for access</a>. 
&#x2A; Reflecting concerns, an analyst from B of A Securities lowers its rating to Buy with a new price target of $997.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Eli Lilly, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.

Options

Eli Lilly's Options: A Look at What the Big Money is Thinking

JPMorgan has reset the valuation for Viking Therapeutics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VKTX#NASDAQ">VKTX</a>) and Structure Therapeutics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GPCR#NASDAQ">GPCR</a>).
Analyst Hardik Parikh cites several reasons for recovery, including pathways for strategic partnership with pharma, some clinical trial data points and additional clarity on the incoming administration&#8217;s policies on GLP-1 access.
The analyst writes that <a target="_blank" href="https://www.benzinga.com/quote/VKTX" rel="noreferrer noopener">Viking Therapeutics</a> and <a target="_blank" href="https://www.benzinga.com/quote/GPCR" rel="noreferrer noopener">Structure Therapeutics</a> are attractive pure-play options for investing in the T2D/obesity market opportunity overall.
The note continues, saying that Viking Therapeutics and Structure Therapeutics remain attractive partners for pharmaceutical companies looking to enter the T2D/obesity market relatively quickly.
It expects a reasonable case to make that many pharmaceutical companies, in addition to Merck &amp; Co. Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRK#NYSE">MRK</a>), could be active in the space. Hence, Viking Therapeutics and Structure Therapeutics still have abundant pathways <a target="_blank" href="https://www.benzinga.com/general/biotech/24/12/42560386/whats-going-on-with-viking-therapeutics-stock-on-wednesday" rel="noreferrer noopener">to strategic partnerships</a>.
Viking Therapeutics and Structure Therapeutics can help address growth gaps for pharma over time, analyst Parikh says, and sees an apparent disconnect on valuation abates over time.
The analyst sees the competitive bar for VK2735 primarily unchanged, at least in the near term, after Novo Nordisk A/S&#8217; (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVO#NYSE">NVO</a>) phase 3 Redefine-1 data showed weight loss from cagriSema that is on par with Eli Lilly And Co.&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>) Zepbound.
The Street broadly expected the Redefine-1 trial of CagriSema to show ~25% weight loss, raising the benchmark <a target="_blank" href="https://www.benzinga.com/24/12/42613036/novo-nordisks-hybrid-weight-loss-drug-falls-short-on-expectations-stock-plunges" rel="noreferrer noopener">injectables in development</a>.
Viking Therapeutics highlighted new clinical data from its VK2735 obesity program in two poster presentations&nbsp;at ObesityWeek&nbsp;2024.
Cohorts receiving VK2735 demonstrated dose-dependent reductions in mean body weight from baseline, <a target="_blank" href="https://www.benzinga.com/general/biotech/24/11/41712739/viking-therapeutics-reveals-early-stage-from-experimental-oral-obesity-drug-showing-weight-loss-a" rel="noreferrer noopener">ranging up to 8.2%</a>.
JPMorgan suggests that VK2735&#8217;s weight-loss effectiveness in its upcoming Phase 3 trial (starting in early 2025) could slightly surpass Zepbound&#8217;s ~22% reduction at 72 weeks and remain competitive with CagriSema.
However, the firm believes Eli Lilly&#8217;s retatrutide may set the highest standard for efficacy, potentially achieving weight loss in the high 20% range, based on Phase 3 data expected in 2026. While this creates a challenging benchmark for VK2735, its tolerability could offer an edge over retatrutide, which is expected to have slightly more side effects than Zepbound.
Last month, Structure Therapeutics selected ACCG-2671 as its lead oral small molecule amylin receptor agonist for obesity and related diseases. The compound is expected to be in Phase 1 clinical development by the <a target="_blank" href="https://www.benzinga.com/pressreleases/24/12/g42539839/structure-therapeutics-announces-selection-of-lead-oral-small-molecule-amylin-receptor-agonist-acc" rel="noreferrer noopener">end of 2025</a>.
In November, Structure Therapeutics dosed the first patient in Phase 2b ACCESS trial of GSBR-1290 obese or overweight patients with <a target="_blank" href="https://www.benzinga.com/pressreleases/24/11/g41953633/structure-therapeutics-announces-first-patients-dosed-in-phase-2b-access-clinical-study-evaluating" rel="noreferrer noopener">weight-related comorbidity</a>.
VKTX, GCPR Price Actions: Viking Therapeutics stock is down 0.56% at $42.65, and Structure Therapeutics stock is down 0.25% at $27.51 at publication Monday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/general/health-care/25/01/42819611/cvs-health-aetna-files-lawsuit-against-drugmakers-for-alleged-inflated-generic-drug-prices" target="_blank" rel="noreferrer noopener">CVS Health&#8217;s Aetna Files Lawsuit Against Drugmakers For Alleged Inflated Generic Drug Prices</a></li>
</ul>
Photo: Gorodenkoff/Shutterstock.com

GPCR

VKTX

Viking Therapeutics, Structure Therapeutics Positioned As Key Pharma Partners For Weight Loss Products: Analyst

Israel Englander's Millennium Management has made sweeping adjustments to its portfolio, including a remarkable 91,046.15% increase in Alibaba Group Holding Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) call options and a 94.69% increase in Broadcom Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>) direct holdings, according to its third quarter 13F filings with the Securities and Exchange Commission.
What Happened: The $69 billion hedge increased Alibaba call options from 5,200 contracts in the second quarter to 4.74 million contracts in the third quarter. Similarly, it raised its put options in Alibaba by 281.79%, from 1.49 million to 5.71 million contracts, while scaling back its direct shareholding in the company by 21.97%, from 2.08 million shares to 1.62 million shares.
Millennium also rebalanced its investments in other major companies. The firm reduced its stake in NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) by 12.57%, cutting its direct holdings from 12.75 million shares in the second quarter to 11.15 million shares in the third quarter. Call options on Nvidia were trimmed by 19.75%, from 15.17 million to 12.17 million contracts, while put options decreased by 21.06%, from 38.63 million to 30.50 million contracts.
The hedge fund significantly increased its position in Broadcom, nearly doubling its direct holdings to 1.15 million shares, up from 592,501 shares in the second quarter. Call options in Broadcom surged 966.56%, climbing from 271,100 to 2.89 million contracts, while put options rose 863.89%, from 492,500 to 4.75 million contracts.
See Also: <a href="https://www.benzinga.com/24/12/42735573/two-magnificent-7-giants-snubbed-in-dan-ives-top-10-tech-winners-for-the-ai-revolution-into-2025-but-palantir-salesforce-and-snowflake-made-the-cut">Palantir, Salesforce, And Snowflake Made The Cut, But 2 &#8216;Magnificent 7&#8242; Giants Left Out From Dan Ives&#8217; Top 10 Tech Winners For The AI Revolution In 2025 List</a>
In other notable moves, Millennium increased its direct holdings in Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) by 51.36%, bringing its stake from 3.04 million shares to 4.60 million shares. Call options in Microsoft rose slightly by 5.31%, from 2.91 million to 3.06 million contracts, while put options declined by 11.63%, from 4.88 million to 4.31 million contracts.
The hedge fund also adjusted its position in Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), increasing its direct holdings by 51.30%, from 440,335 shares in the second quarter to 666,095 shares in the third quarter. Call options in Tesla dropped by 17.16%, from 3.93 million to 3.26 million contracts, while put options saw a steep decline of 38.31%, from 9.10 million to 5.62 million contracts.
Why It Matters: Millennium made notable changes to its holdings in the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), raising its direct stake by 80.97%, from 3.08 million shares to 5.57 million shares. Call options in SPY decreased slightly by 2.01%, from 3.74 million to 3.67 million contracts, while put options increased by 34.89%, from 6.44 million to 8.68 million contracts.
Millennium, founded by Englander in 1989 with just $35 million, showed notable activity across other major holdings. The fund increased its Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) position with a 10.8 million purchase of iShares Bitcoin Trust ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBIT#NYSE">IBIT</a>).
The investment shifts occur as Millennium <a href="https://www.benzinga.com/markets/equities/24/11/41834463/blackrock-in-early-talks-to-take-equity-stake-in-hedge-fund-giant-millennium-report">faces potential structural changes</a>. The firm is reportedly in early-stage discussions with BlackRock Inc. regarding a possible equity stake sale, which would mark the first external investment in Millennium&#8217;s management company during its 35-year history.
Englander, who began his career as a floor broker and trader on the American Stock Exchange, has maintained 100% ownership of Millennium since its inception. The firm employs multiple investment strategies, including relative value, equity arbitrage, fixed income, and quantitative approaches.
Read Next: 
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<li><a href="https://www.benzinga.com/24/12/42735744/pharma-bro-martin-shkreli-predicts-doom-for-michael-saylors-microstrategy-as-stock-dips-below-300-in-after-hours-trading">&#8216;Pharma Bro&#8217; Martin Shkreli Predicts Liquidation Doom For MicroStrategy Amid Fall Below $300, Says Bitcoin Will Hit $250K Without Michael Saylor</a></li>
</ul>
Image Via Shutterstock 
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

AVGO

BABA

IBIT

NVDA

Israel Englander's Millennium Management Dumps Nvidia, Loads Up On Broadcom — Here's What The $70 Billion Hedge Fund Sees

Deep-pocketed investors have adopted a bearish approach towards Eli Lilly (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in LLY usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 28 extraordinary options activities for Eli Lilly. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 35% leaning bullish and 46% bearish. Among these notable options, 9 are puts, totaling $918,100, and 19 are calls, amounting to $2,223,588.
<h3>What's The Price Target?</h3>
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $330.0 to $940.0 for Eli Lilly over the recent three months. 
<h3>Analyzing Volume &amp; Open Interest</h3>
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Eli Lilly's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Eli Lilly's whale activity within a strike price range from $330.0 to $940.0 in the last 30 days. 
<h3>Eli Lilly Option Volume And Open Interest Over Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1735922721_0.png" alt="Options Call Chart" />
<h3>Biggest Options Spotted:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th align="right">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>LLY</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$17.25</td>
<td>$16.35</td>
<td>$17.0</td>
<td>$780.00</td>
<td>$850.0K</td>
<td>3.9K</td>
<td align="right">519</td>
</tr>
<tr>
<td>LLY</td>
<td>PUT</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>12/18/26</td>
<td>$48.0</td>
<td>$45.25</td>
<td>$46.6</td>
<td>$600.00</td>
<td>$466.0K</td>
<td>199</td>
<td align="right">100</td>
</tr>
<tr>
<td>LLY</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>03/21/25</td>
<td>$13.2</td>
<td>$12.55</td>
<td>$12.75</td>
<td>$900.00</td>
<td>$277.9K</td>
<td>940</td>
<td align="right">223</td>
</tr>
<tr>
<td>LLY</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>12/18/26</td>
<td>$184.0</td>
<td>$180.5</td>
<td>$180.5</td>
<td>$750.00</td>
<td>$180.5K</td>
<td>38</td>
<td align="right">10</td>
</tr>
<tr>
<td>LLY</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>12/18/26</td>
<td>$183.15</td>
<td>$180.0</td>
<td>$180.0</td>
<td>$750.00</td>
<td>$180.0K</td>
<td>38</td>
<td align="right">20</td>
</tr>
</tbody>
</table>

<h3>About Eli Lilly</h3>
Eli Lilly is a drug firm with a focus on neuroscience, cardiometabolic, cancer, and immunology. Lilly's key products include Verzenio for cancer; Mounjaro, Zepbound, Jardiance, Trulicity, Humalog, and Humulin for cardiometabolic; and Taltz and Olumiant for immunology.
In light of the recent options history for Eli Lilly, it's now appropriate to focus on the company itself. We aim to explore its current performance.
<h3>Current Position of Eli Lilly</h3>
<ul>
<li>With a volume of 506,387, the price of LLY is up 0.23% at $779.88. </li>
<li>RSI indicators hint that the underlying stock may be approaching oversold.</li>
<li>Next earnings are expected to be released in 34 days.</li>
</ul>
<h3>What The Experts Say On Eli Lilly</h3>
In the last month, 1 experts released ratings on this stock with an average target price of $997.0.
Turn $1000 into $1270 in just 20 days?
20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. <a href="https://www.benzinga.com/premium/ideas/options-moneyline-2/?t=Moop1arja3be22op14&amp;utm_source=benzinga-insights">Click here for access</a>. 
&#x2A; In a cautious move, an analyst from B of A Securities downgraded its rating to Buy, setting a price target of $997. 
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Eli Lilly with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.

Smart Money Is Betting Big In LLY Options

On CNBC's &#8220;Mad Money Lightning Round,&#8221; Jim Cramer recommended buying more Uber Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>).
On Jan. 2, JMP Securities analyst Andrew Boone downgraded Uber from Market Outperform to Market Perform and <a href="https://www.benzinga.com/quote/UBER/analyst-ratings">maintained the price target of $95</a>.
The AES Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AES#NYSE">AES</a>) is a buy, Cramer said. &#8220;I think it's time to pick up that utility.&#8221;
On Dec. 6, AES increased its quarterly dividend from 17.25 cents to 17.595 cents per share.
Cramer said he doesn't like PENN Entertainment, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PENN#NASDAQ">PENN</a>).
On Dec. 13, JP Morgan upgraded the stock from Neutral to Overweight and raised its price target from $19 to $27.
When asked about Nucor Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NUE#NYSE">NUE</a>), Cramer said, &#8220;It's been very, very tough to own this great steel maker.&#8221;
On Dec. 16, the company provided fourth-quarter guidance, expecting EPS of 55 cents to 65 cents, versus the consensus of 86 cents.
Lazard, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LAZ#NYSE">LAZ</a>) is &#8220;really inexpensive,&#8221; the &#8220;Mad Money&#8221; host said.
On Dec. 20, Keefe, Bruyette &amp; Woods analyst Aidan Hall downgraded Lazard from Outperform to Market Perform and lowered the price target from $65 to $57.
Cramer recommended to hold on to Eli Lilly and Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>).
On Dec. 20, the FDA approved the company's Zepbound, a weight loss drug designed to treat moderate-to-severe obstructive sleep apnea in adults with obesity.
&#8220;I think the stock at 15 times earnings is fine,&#8221; Cramer said when asked about Labcorp Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LH#NYSE">LH</a>). &#8220;The problem is its healthcare, and people do not like the healthcare stocks.&#8221;
On Dec. 17, Morgan Stanley analyst Ricky Goldwasser maintained Labcorp with an Overweight and raised the price target from $260 to $270.
Price Action:
<ul>
<li>Uber shares gained 4.7% to settle at $63.17 on Thursday.</li>
<li>AES shares rose 1.4% to close at $13.05 during the session.</li>
<li>Penn Entertainment shares fell 2.9% to settle at $19.24.</li>
<li>Lazard shares fell 1.4% to settle at $50.74 on Thursday.</li>
<li>Eli Lilly shares gained 0.8% to $778.07 on Thursday.</li>
<li>Nucor shares fell 1.9% to settle at $114.48 on Thursday.</li>
<li>Labcorp shares fell 0.5% to close at $228.19.</li>
</ul>
Read Next: 
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Photo: Courtesy of <a href="https://www.flickr.com/photos/ojbyrne/" target="_blank" rel="noreferrer noopener">Owen Byrne</a> on flickr

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As expected by many, Eli Lilly And Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>) filed a motion to intervene as a defendant in a case between the Outsourcing Facilities Association and FarmaKeio Custom Compounding against the FDA.
The court has <a target="_blank" href="https://storage.courtlistener.com/recap/gov.uscourts.txnd.395430/gov.uscourts.txnd.395430.37.0_1.pdf" rel="noreferrer noopener">now</a> ordered the Outsourcing Facilities Association to respond by January 15, with Eli Lilly&#8217;s reply due by January 21.
What happened: In early October, the FDA determined that&nbsp;Eli Lilly&#8217;s tirzepatide injection shortage had been resolved.
The U.S. health regulator&nbsp;<a target="_blank" href="https://www.fda.gov/drugs/drug-safety-and-availability/fda-clarifies-policies-compounders-national-glp-1-supply-begins-stabilize" rel="noreferrer noopener">reminded</a> compounders of the legal restrictions on making copies of FDA-approved drugs.
Also Read: <a target="_blank" href="https://www.benzinga.com/general/biotech/25/01/42764490/us-employer-health-costs-to-rise-in-2025-fueled-by-weight-loss-report" rel="noreferrer noopener">US Employer Health Costs To Rise In 2025 Fueled By Weight Loss: Report</a>
Tirzepatide injection, branded as Mounjaro and Zepbound, has been in shortage since 2022 due to increased demand, allowing compounding pharmacies and outsourcing facilities to produce the drug and meet patient demand.
The compounding groups filed a complaint in October 2024 alleging that removing the drug from the shortage list is based solely on the <a target="_blank" href="https://www.benzinga.com/general/biotech/24/10/41232660/fda-sparks-controversy-with-sudden-removal-of-eli-lillys-weight-loss-drug-from-shortage-list" rel="noreferrer noopener">manufacturer&#8217;s production capabilities</a>.
Critics argued that this move disregards evidence of continued supply disruptions. While the FDA acknowledged ongoing &#8220;intermittent localized supply disruptions,&#8221; the agency proceeded with its decision, which was described as arbitrary and violated established procedures.
Later in October, the FDA said it was reassessing its decision to ban compounding pharmacies from supplying cheaper versions of&nbsp;Eli Lilly&#8217;s <a target="_blank" href="https://www.benzinga.com/general/biotech/24/10/41313216/fda-to-reassess-ban-on-cheaper-compounded-versions-of-eli-lilly-weight-loss-drugs" rel="noreferrer noopener">weight loss and diabetes drugs</a>.
In December, the FDA <a target="_blank" href="https://www.fda.gov/drugs/drug-safety-and-availability/fda-clarifies-policies-compounders-national-glp-1-supply-begins-stabilize" rel="noreferrer noopener">reviewed</a> its earlier decision and announced that the shortage had been resolved based on its current analysis.
The agency allowed the pharmacies and outsourcing facilities to compound, distribute, or dispense tirzepatide injections until February 18 and March 19, 2025, respectively.
The FDA emphasized that it may still take action against violations unrelated to the shortage.
Why It Matters: In a motion <a target="_blank" href="https://www.courtlistener.com/docket/69232675/outsourcing-facilities-association-v-united-states-food-and-drug/" rel="noreferrer noopener">filed</a> on New Year, Eli Lilly said it seeks to intervene to protect its interests and help bring this suit to a swift end.
Eli Lilly says, &#8220;Plaintiffs seek to reverse FDA&#8217;s determination that Mounjaro and Zepbound are not in shortage, so Plaintiffs can claim entitlement to continue to mass-selling and (illegally) mass-marketing unapproved (and, all too often, unsafe) copies of Lilly&#8217;s medicines. The motive for their suit is transparent: in their words, FDA&#8217;s shortage determination &#8220;will . . . cause [them] to fail to capitalize on their investment&#8221; and &#8220;destroy their revenues.&#8221;
The <a target="_blank" href="https://storage.courtlistener.com/recap/gov.uscourts.txnd.395430/gov.uscourts.txnd.395430.35.0_2.pdf" rel="noreferrer noopener">filing</a> highlights Lilly&#8217;s &#8220;direct, substantial, legally protectable interest in the proceedings&#8221; as it has invested over $23 billion to increase its <a target="_blank" href="https://www.benzinga.com/general/biotech/24/10/41141028/eli-lilly-invests-4-5b-in-new-medicine-foundry-for-advanced-drug-manufacturing-to-push-us-pharma-" rel="noreferrer noopener">manufacturing capacity</a>.
Price Action: At last check on Friday, LLY stock was down 0.01% at $778 during the premarket session.
Read Next:
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<li><a href="https://www.benzinga.com/25/01/42782683/tesla-hits-record-ev-sales-in-china-despite-global-dip" target="_blank" rel="noreferrer noopener">Tesla Hits Record EV Sales In China Despite Global Dip: Report</a></li>
</ul>
Image by Mohammed_Al_Ali via Shutterstock

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