Why Eli Lilly Stock Trounced the Market on Thursday
It's always a relief when a drug shortage ends. It's even more of a relief when that shortage concerns a hot new drug produced by a high-profile pharmaceutical company.
That dynamic was behind the 3.5% increase of Eli Lilly's (NYSE: LLY) stock price on Thursday. Comforting words from the company's leader led investors to load up on the stock, making it a far better performer than the sliding S&P 500 index (which fell by 1.4% that day).
That drug is Zepbound, the weight loss treatment that is one of Lilly's newest and hottest products. Due to the enormous popularity -- combined with scarcity -- of such goods, Zepbound had officially been in a shortage on the U.S. market. It's now set to change that status in the very near future.
Source Fool.com
