Eli Lilly's Stock Declines Due to Slower Than Expected Sales of New Weight Loss Drug
Eli Lilly's stock fell nearly 4% on Friday due to slower-than-expected initial sales of its new weight loss drug, Foundayo. The drug's first week of prescriptions totaled 3,707, significantly lower than Novo Nordisk's Wegovy, which had 18,410 prescriptions in its second week. The underperformance raised concerns about Foundayo's market potential.
Tickers: $LLY
Topics: Eli Lilly FDA approval Foundayo market reaction pharmaceuticals stock price