Bearish
Eli Lilly's stock drops 2.06% amid Novartis' cholesterol drug trial failure
Eli Lilly's stock declined by 2.06% following Novartis' announcement that its cholesterol drug, pelacarsen, failed to reduce cardiovascular events despite lowering harmful cholesterol levels. This setback raises concerns about the efficacy of similar treatments, including Eli Lilly's experimental Lp(a) drug.
Key points
- Novartis' pelacarsen fails to reduce cardiovascular events, impacting Lp(a) drug prospects.
- Eli Lilly's stock closes at $1,125.66, down 2.06% from the previous close.
- Market capitalization stands at $1.004 trillion; P/E ratio at 37.81.
Sources
AI-generated from public news sources. Not financial advice.
