Why Eli Lilly Stock Topped the Market Today

Eli Lilly (NYSE: LLY) stock was the picture of health on Friday. Shares of the massive American pharmaceutical company rose by more than 2% on the day, thanks largely to news from a rival. That performance was in contrast to the S&P 500's (SNPINDEX: ^GSPC) trajectory; the closely watched index sank marginally by 0.3%.Eli Lilly's small pop was due to the latest developments in the lab reported by Novo Nordisk (NYSE: NVO), which, like the U.S. company, is doing brisk business with a weight loss drug: Wegovy, which competes directly with Eli Lilly's Zepbound.On Friday morning, Novo Nordisk unveiled the latest results from a clinical trial of CagriSema, an investigational drug leveraging the foundational semaglutide molecule used in Wegovy. Participants in the 36-week trial experienced a nearly 10% reduction in body fat, on average. Gastrointestinal side effects were merely mild to moderate, according to the company. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool