LLY Stock Rises on Congressional Budget Office Report
Lilly(LLY) Gurufocus·2024-10-09 06:25
Eli Lilly's (LLY, Financial) stock experienced a notable movement, rising 1.71% to a price of $913.72. This surge was driven by the Congressional Budget Office (CBO) report on the potential impact if Medicare were to cover anti-obesity medications, including Eli Lilly's weight loss drug, Zepbound.The CBO estimates this Medicare coverage could increase federal spending by $35 billion from 2026 to 2034, underscoring the significant sales potential for GLP-1 drugs in the weight loss market. Investors have resp ...