NEW YORK, Nov 14 (Reuters) - Some big investors showed increased appetite for weight-loss drug makers in the third quarter, piling in to shares of Eli Lilly (LLY.N) and Novo Nordisk amid growing demand for their product, securities filings showed on Tuesday.
Shares of Eli Lilly rose 14.5% in the third quarter and are up 67% this year.
Some investors also bought more American Depositary Receipts of Novo Nordisk, including Fidelity Investments, Lazard Asset Management, T Rowe Price and Soros Fund.
Novo Nordisk on Saturday presented data showing that the heart protective benefits of Wegovy are not solely due to weight loss, which could make it easier for healthcare insurance reimbursement in the future.
Still, other investors trimmed their exposure to Eli Lilly, such as Wellington Management Group, California Public Employees Retirement System and Bridgewater Associates.
Persons:
Eli Lilly, Eli Lilly's Mounjaro, JPMorgan Chase, Eli Lilly's, Rowe Price, Marshall Wace, LSEG, “ Stocks, ”, Vincent Aita, Carolina Mandl, Ira Iosebashvili, Matthew Lewis
Organizations:
Novo Nordisk, Novo, JPMorgan, Vanguard, Sigma, Tiger Global Management, Coatue Management, U.S . Food, Drug Administration, Novo Nordisk's Wegovy, Bank of America, Fidelity Investments, Lazard Asset Management, Soros Fund, Wellington Management Group, California, Bridgewater Associates, Marshall, Renaissance Technologies, Capital Management, Pfizer, Carolina, Thomson
Locations:
BlackRock, U.S, New York