Big Pharma right now https://t.co/AUr6JduGPS https://t.co/v5ZdaHPWAM
$LLY 🚀 Meeting all targets https://t.co/zLENw7QUt7
$LLY up 3.4%. Sorry shorts couldn't keep it down on drug pricing BS $VKTX July not far, believe huge move post data. Recall, stock hit $90+ post PH1 results last October. PH2 data bodes well for the stock to recover lost ground.
The pharmaceutical industry, particularly companies like Eli Lilly and Co. (LLY), has experienced significant volatility in recent days. LLY's stock price dropped to $700 before recovering to $745, reflecting a 25% decline over less than two weeks. This downturn is attributed to concerns over drug pricing. LLY's stock later rose by 3.4%. Amidst this backdrop, Viking Therapeutics Inc. (VKTX) is highlighted as a strong contender in the obesity treatment market, with upcoming Phase 2 oral data expected between late July and early August and Phase 3 subcutaneous (SubQ) trials starting this quarter. The CEO of VKTX has set expectations for the oral pill to achieve at least an 8% weight loss, with potential to exceed this target based on past performance where the stock hit $90+ post Phase 1 results last October. Other major pharmaceutical companies such as Johnson & Johnson (JNJ), Merck & Co. (MRK), and Pfizer Inc. (PFE) are also mentioned in the context of the broader market dynamics, though they are noted to be lagging behind in the obesity treatment race.
