Eli Lilly stock rose 3.6% due to positive news for the company and a setback for rival Novo Nordisk involving weight loss drugs Mounjaro and Zepbound GLP-1.

Novo Nordisk announced trial results for its new drug CagriSema, a combination of amylin analog cagrilintide and semaglutide, showing less weight loss compared to Eli Lilly’s tirzepatide.

Eli Lilly introduced a new delivery system for Zepbound called KwikPen, allowing users to buy a month’s supply in one pen, potentially saving on syringe production costs.

Despite a small savings for Lilly, the pharmaceutical giant saw a big advantage over Novo’s underperforming drug, CagriSema, which could impact the market significantly.

For investors considering Eli Lilly stock, keep in mind that it didn’t make the Motley Fool’s list of the 10 best stocks to buy now, which have the potential for significant returns in the future.

Read more at Yahoo Finance: Why Eli Lilly Stock Just Popped