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Is Eli Lilly Stock a Buy Following This Competitor's Major Win?

TheMotleyFool

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Is Eli Lilly Stock a Buy Following This Competitor's Major Win?: https://g.foolcdn.com/editorial/images/702983/physician-giving-medicine-to-elderly-patient.jpg

Eli Lilly (NYSE: LLY) was already having a great year in the stock market, but on Sept. 28, the company's shares jumped by about 7%. The move happened after biotech giant Biogen and its partner Esai reported positive top-line results from a phase 3 clinical trial for an Alzheimer's disease (AD) therapy candidate, lecanemab.

Eli Lilly is working on its own AD treatment, donanemab, and the market counted Biogen's win as Eli Lilly's too. Still, a 7% jump for a company the size of Eli Lilly is huge. Was it justified? Here's what could be in the cards for Eli Lilly's AD program following these recent developments.

Source Fool.com

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