Lilly's Weight Loss Pill Approval, Centessa Buy Boosts Shares
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Show Notes
Eli Lillys shares surged 4.7% following FDA approval of their oral weight loss pill, Foundayo, and a $7.8 billion acquisition of Centessa Pharmaceuticals. While traders initially reacted positively, shares settled at $967.75, still up 4.5% from the previous close. Analysts are divided, with one from HSBC lowering their price target due to smaller obesity markets and intense price competition. Despite recent dips, a $1,000 investment five years ago would now be worth over $5,187, highlighting Lillys long-term growth.
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