Big drug trial for Lilly

Article Excerpt

ELI LILLY & CO., $437.47, is a #1 Power Buy for 2023. The company (New York symbol LLY; TSINetwork Rating: Above Average) (www.lilly.com; Shares outstanding: 949.3 million; Market cap: $414.5 billion; Dividend yield: 1.3%) rose to new all-time highs recently after its experimental Alzheimer’s drug, donanemab, slowed cognitive decline by 35% in a closely watched late-stage trial. The results raise hopes for an effective treatment for the brain-wasting disease. Based on the new data, Lilly plans to apply this quarter to the U.S. Food and Drug Administration (FDA) for approval to market the drug. This sets up a potential approval decision later in 2023 or in 2024. If approved, the drug could be a blockbuster for the company. Either way, Lilly’s prospects are bright. The company has a strong drug portfolio and a full development pipeline. It spends a very high 25% of sales on research and development. Eli Lilly is a buy. buy…