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☆ We're raising our price target on Eli Lilly by $120 after its excellent quarter
▼ + stars: | 2024-02-06 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +10 min

Bottom line Eli Lilly delivered a strong report Tuesday. Still, it's not a surprise to see shares of Eli Lilly fall nearly 2% Tuesday, to around $694 each. Despite doubling manufacturing capacity year over year in 2023, Eli Lilly said demand for its GLP-1s is "likely to outpace supply" this year. We're raising our Eli Lilly price target to $750 a share from $630, while reiterating our 2 rating on the stock, meaning we'd wait for a pullback before adding to our position. Eli Lilly & Co. Mounjaro brand tirzepatide medication arranged at a pharmacy in Provo, Utah, US, on Monday, Nov. 27, 2023.

Persons: Eli Lilly's, Lilly's, Eli Lilly, Mounjaro, Zepbound, it's, —, Jim Cramer, Anat Ashkenazi, NASH, Lilly, Jim, Jardiance, Verzenio, Trulicity, donanemab, Ashkenazi, Jim Cramer's, George Frey Organizations: Revenue, LSEG, U.S, Novo Nordisk, Food and Drug Administration, Analysts, Investors, FDA, CNBC, Bloomberg, Getty Locations: Mounjaro's, U.S, Mounjaro, Trulicity, Provo , Utah

☆ Eli Lilly results top estimates on Mounjaro strength but slashes full-year profit outlook
▼ + stars: | 2023-11-02 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +2 min

Eli Lilly on Thursday reported third-quarter revenue and adjusted earnings that topped estimates on strong demand for its diabetes drug Mounjaro, but slashed its full-year profit guidance due to charges primarily related to its recent acquisitions. Eli Lilly recorded pre-tax "in-process research and development" charges of $2.98 billion, which are primarily related to a slew of recent buyouts, including DICE Therapeutics, Versanis Bio and Emergence Therapeutics AG. "This is essentially the future value of business development deals we have done," Eli Lilly CEO David Ricks said on CNBC's "Squawk Box" on Thursday. But Eli Lilly reiterated its full-year revenue forecast of between $33.4 billion and $33.9 billion. With a market cap of roughly $526 billion, Eli Lilly is the largest pharmaceutical company based in the U.S.

Persons: Eli Lilly, Jardiance, David Ricks Organizations: LSEG, Therapeutics, U.S Locations: Mounjaro, Wednesday's

☆ Eli Lilly is on a buying spree. Here’s what it means for investors like us
▼ + stars: | 2023-10-05 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +9 min

Still, he said it's "healthy" for a company like Eli Lilly — valued over $500 billion, as of Thursday — to be executing smaller deals. "They can still put their mark on an asset or a constellation of drugs," said Seigerman, who has a buy rating and $633-per-share price target on Eli Lilly stock. LLY 1Y mountain Eli Lilly's stock performance over the past 12 months. Details on the deals The three companies Eli Lilly bought this summer have drugs in various stages of the clinical development process. In the near term, though, they may result in a noisy third-quarter earnings report as Eli Lilly records the acquisitions.

Persons: Eli Lilly, Mounjaro, Jim Cramer, Eli Lilly's, Lilly, –, Verzenio, Evan Seigerman, Eli Lilly —, Seigerman, Lilly's, Dice, Versanis, Sigilon, that's, BMO's Seigerman, Eli, we'd, Jim Cramer's, Jim, Daniel Acker Organizations: Indianapolis, U.S . Food, Drug Administration, BMO Capital, Immunology, Therapeutics, Siligon Therapeutics, Oncology, Club, Department of Health, Human Services, Dice Therapeutics, Alzheimer's, Treasury, CNBC, Bloomberg, Getty

☆ UBS says this stock is the 'best story' among U.S. large caps, sees more than 15% upside ahead
▼ + stars: | 2023-08-14 | by ( Christina Cheddar Berk | ) www.cnbc.com time to read: +3 min

Calling it the "best fundamental story" among U.S. large caps, UBS analyst Colin Bristow on Friday lifted his price target to $612 from $526. The stock has already gained 47% year to date, mostly on the back of lofty expectations for weight loss drug sales. Bristow also expects data for its Crohn's disease treatment by year-end, as well as readouts on Verzenio for prostate cancer. Then by 2024, Lilly is expected to submit data for a cell therapy for type 1 diabetes. And there's potential for even more upside if the drug adds other indications such as renal treatment, he said.

Persons: Eli Lilly, Colin Bristow, Bristow, Lilly, Jaypirca, Novo's, — CNBC's Michael Bloom Organizations: UBS, Food, Drug, European Union, Novo Locations: U.S

☆ Promise around Eli Lilly's expected obesity drug, great earnings adds some $60 billion in market cap
▼ + stars: | 2023-08-08 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +9 min

(When excluding one-time divestment contributions and last year's Covid antibody revenue, Lilly's sales rose 22% on an annual basis.) Eli Lilly shares soared more than 16% to a new all-time high during Tuesday's session. LLY YTD mountain Eli Lilly's stock performance so far in 2023. Eli Lilly now expects adjusted earnings per share between $9.70 and $9.90, up significantly from the old guidance between $8.65 and $8.85. For its part, Eli Lilly is also studying Mounjaro's impact on other health outcomes including cardiovascular events.

Persons: Eli Lilly, Mounjaro, —, Jim Cramer's, Jim, Lilly's, Cheplapharm —, Lilly, Anat Ashkenazi, Ashkenazi, Eli Lilly's, Lilly Diabetes, Michael Mason, Mason, Verzenio, Trulicity, we've, David Ricks, Jim Cramer, Cristina Arias Organizations: Novo Nordisk, U.S, Amphastar Pharmaceuticals, Management, CNBC, Company, Pharmaceutical Locations: Indianapolis, North Carolina, U.S, Trulicity, Danish, Novo, Alcobendas, Madrid, Spain

☆ Eli Lilly raises full-year guidance as drug pipeline drives second-quarter profit up 85%
▼ + stars: | 2023-08-08 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +3 min

Eli Lilly also increased its adjusted earnings guidance to a range of $9.70 to $9.90 per share for the year, up from a range of $8.65 to $8.85. Shares of Eli Lilly jumped 9% in premarket trading Tuesday. Last month, Eli Lilly filed for Food and Drug Administration approval of the injection for chronic weight management. Eli Lilly said it "has experienced and continues to expect intermittent delays fulfilling orders of certain Mounjaro doses given significant demand." Eli Lilly also reported no sales from its Covid-19 antibody treatments, compared with $129 million in the second quarter of 2022.

Persons: Eli Lilly, Here's, Alimta, Alimta's Organizations: Getty, Refinitiv, Food and Drug, Amphastar Pharmaceuticals, Drug Administration, . Pipeline Locations: U.S

☆ Novartis drug cuts recurrence risk by 25% in early-stage breast cancer
▼ + stars: | 2023-06-02 | by ( Ludwig Burger | ) www.reuters.com time to read: +3 min

The company on Friday said the relative risk reduction of cancer recurrence was 25.2% and that the results were broadly consistent regardless of patients' menopausal status or cancer progression status. Kisqali has been approved to treat hormone-driven breast cancer that has spread to other parts of the body, where Novartis has taken market share from Pfizer's (PFE.N) Ibrance. But that is in a subset of women who are at high risk of recurrence after surgery, typically diagnosed based on signs of cancer in the lymph nodes. Here, Novartis will face tough competition because the U.S. drugmaker has said Verzenio reduces the risk of recurrence by 35% in that group. Novartis will request approval for wider use in the U.S. and Europe before the end of the year, it added.

Persons: Kisqali, Eli Lilly, Verzenio, drugmaker, Eli Lilly's Verzenio, Jeff Legos, Vas, Ludwig Burger, Sriraj Organizations: Novartis, American Society of Clinical Oncology, Oncology, Hematology, Thomson Locations: FRANKFURT, Chicago, U.S, Europe

☆ Drug cuts risk of breast cancer recurrence for some early-stage patients, trial shows
▼ + stars: | 2023-06-02 | by ( Jen Christensen | ) edition.cnn.com time to read: +6 min

CNN —A drug used in people in the early stage of the most common kind of breast cancer – HR+/HER2- breast cancer – significantly reduced the risk of the cancer returning after treatment, according to a new study. HR+/HER2- breast cancer has tested positive for progesterone and estrogen receptors and negative for HER2. Endocrine therapy generally works well, but for patients with HR+ or HER- breast cancer, there’s still a 10% to 40% chance that the cancer will come back, some studies show. The new trial found that when Kisqali is added to endocrine therapy, it reduces the risk of recurrence by 25% across a broad population of patients with early breast cancer. About 90% of patients who have breast cancer are diagnosed in the early stages.

Persons: there’s, Kisqali, ”, Dennis J, Slamon, Sara Tolaney, ” Tolaney, Anupama Goel, Goel, Dr, Sanjay Gupta, Alberto Montero, ” Montero, Montero Organizations: CNN, US Food and Drug Administration, American Society of Clinical Oncology, Novartis, UCLA, Comprehensive Cancer Center, Oncology, Dana, Farber Cancer Institute, Mount Sinai Tisch Cancer Center, CNN Health, UH Seidman Cancer Center, Case Western Reserve University School of Medicine Locations: Chicago, Ohio, –

☆ ASCO conference will put the focus on the fight against cancer. These stocks are in the spotlight
▼ + stars: | 2023-05-28 | by ( Christina Cheddar Berk | ) www.cnbc.com time to read: +9 min

Developments in cancer research will be in the spotlight as the American Society of Clinical Oncology hosts the world's biggest cancer research conference in Chicago, starting Thursday. The pair has already has won regulatory approval for Enhertu for metastatic HER2-low breast cancer, but the companies are also studying its use in a variety other HER2 tumors in breast cancers. Lilly's drug, Verzenio, is used in high-risk patients with HR-positive HER2-negative breast cancer that is more likely to reoccur and has already breached the patient's lymph nodes. In a research note earlier this month, Guggenheim analyst Seamus Fernandez said Kisqali is already taking market share from Pfizer's Ibrance in metastatic breast cancer. Merck's Keytruda is also being watched for what benefits it could offer early-stage lung cancer patients .

☆ Novartis buoyed by trial success in early-stage breast cancer
▼ + stars: | 2023-03-27 | by ( Ludwig Burger | ) www.reuters.com time to read: +2 min

The Swiss firm's shares jumped 5.8% on Monday to a four-week high by 0734 GMT, after it said a panel of independent supervisors recommended stopping the trial early because an interim analysis had shown a clear benefit. Kisqali has been approved to treat hormone-driven breast cancer that has spread to other body parts, where it has taken market share from Pfizer's (PFE.N) Ibrance. Rival drug Verzenio by Eli Lilly (LLY.N) has approval in the early setting for women at high risk of recurrence after surgery. Kisqali, which saw sales gain 31% to $1.2 billion last year, is one of two new drugs with a particularly important role for the group's future sales growth. Detailed trial results will be presented at a medical conference, Novartis said, without identifying the meeting or its timing.

☆ Eli Lilly is still best long-term growth story in large cap pharma despite messy quarter
▼ + stars: | 2022-11-01 | by ( Jeff Marks | ) www.cnbc.com time to read: +10 min

Eli Lilly (LLY) reported a noisy third-quarter before the opening bell Thursday, but the numbers did not change our thesis in what we think is the best long-term growth story in large cap pharma. On the bottom line, Eli Lilly grew its adjusted earnings-per-share by 12% to $1.98, beating the consensus forecast of $1.92, according to Refinitiv. Bottom line Another messy quarter for Eli Lilly but one that has little impact on what we believe is still a compelling story. Verzenio revenue of $618 million beat estimates of $615 million Jardiance revenue of $573 million beat estimates of $495 million Taltz revenue of $679 million missed estimates of $682 million Retevmo revenue of $40.5 million missed estimates of $52 million. This Tuesday, July 17, 2012, photo shows the Eli Lilly corporate headquarters in Indianapolis.

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