Eli Lilly Has a New Drug That Could Push the Stock Higher [Yahoo! Finance]
Novo Nordisk A/S (NVO)
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Source: Yahoo! Finance
Demand for these drugs, whose competitors include Novo Nordisk products Wegovy and Ozempic, has been so high that both firms have struggled to manufacture enough, resulting in shortages. Eli Lilly's stock has risen 53% so far this year due to the incredible success of these products. However, the company is currently developing another drug that could send the stock price even higher. What is Eli Lilly's latest drug? Donanemab, a treatment to slow the progression of Alzheimer's disease, is currently in the final phase of FDA review . One very positive sign for the eventual approval of donanemab is that on June 10, a unanimous panel of independent advisors to the FDA endorsed the treatment for early stage Alzheimer's disease. Although this does not guarantee approval, the FDA usually follows the recommendation of such panels. It is possible that the drug could be approved by the end of the year. Noting study results, the Alzheimer's Society, a registered charity in the United
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