What's Going On With Eli Lilly Stock Today?

Eli Lilly And Co’s LLY shares are trading higher with a session volume of 1.683 million versus an average volume of 3.12 million, according to data from Benzinga Pro. However, there is no news to justify the movement.

Investors eagerly await fourth-quarter 2023 results and guidance scheduled to be announced on February 6, with all eyes on the company’s blockbuster weight-loss drug Zepbound (tirzepatide). 

The recently FDA-approved medication, introduced in November, has quickly triggered intense competition within the anti-obesity market. 

This suggests the possibility of significant changes or disruptions in the coming months.

The surge in demand has raised concerns about supply constraints, potentially impacting Zepbound’s availability in 2024.

Lilly priced Zepbound at a discount ($1,060 per injection) compared to Novo Nordisk A/S’s NVO Wegovy ($1,350).

Eli Lilly and Novo Nordisk have encountered manufacturing challenges and drug shortages, prompting investments in expanding production capacity. 

To manage the shortage, Novo Nordisk agreed to acquire three fill-finish sites from Novo Holdings A/S in connection with a transaction where Novo Holdings has agreed to acquire Catalent Inc CTLT.

Novo Nordisk will acquire the three manufacturing sites for an upfront payment of $11 billion.

Also Read: Weight Loss Drug’s New Entrant: Amgen To Compete With Novo Nordisk, Eli Lilly, As Investigational Weight Loss Drug Shows Encouraging Early Data.

Limited quantities of Eli Lilly’s diabetes drug Mounjaro (tirzepatide) in higher doses (10 mg, 12.5 mg, and 15 mg) will be accessible until early March 2024, per the FDA’s website. 

The restricted availability is attributed to heightened demand. 

In late January, the website indicated that only the 12.5 mg dose would be limited through February 2024, while lower doses remain available, Reuters noted.

Price Action: LLY shares are up 5.12% at $701.87 on the last check Monday.

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