Eli Lilly stock is up 58% in 2024, with FDA approvals for new drugs

From Nasdaq: 2024-10-19 18:10:00

Pharmaceutical giant Eli Lilly (NYSE: LLY) has seen significant success in 2024, with shares up 58% thanks to their diabetes and obesity care products. Additionally, their Alzheimer’s drug, donanemab, received FDA approval in July. In September, Lilly also received FDA approval for their eczema medication, Ebglyss, targeting a market worth $31 billion by 2034. While the stock’s P/E ratio is not cheap at 113, the company’s growth potential in various healthcare sectors makes it a compelling buy for long-term investors. Lilly’s eczema approval is just one example of their expanding pharmaceutical success.



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