Lilly up on launching website, home delivery option for weight-loss drugs

WW International

04/01/2024 15:28

(Updates)
    ** U.S. drugmaker Eli Lilly's shares  LLY.N  rose as much as
2.2% to hit a record high of $631.18 in early trading  
    ** Company launches new website that will provide patients
with obesity, migraine and diabetes access to healthcare
providers and home delivery of select medicines
    ** The service, called LillyDirect, comes on the back on
extraordinary demand seen over the last year for powerful
weight-loss medicines such as Novo Nordisk's  NOVOb.CO  Wegovy 
        ** LLY's obesity drug Zepbound launched 
    last month, is the latest entrant to a market that is
forecast to grow to about $100 billion by the end of the decade 
    **  Lilly also said it stands against use of its obesity and
diabetes drugs Mounjaro and Zepbound for "cosmetic weight loss" 
    ** Shares of weight-loss services firm WW International
 WW.O  down 11.4% to $6.8 after Lilly's website launch   
    ** LLY stock gained 59% in 2023, making it the largest
healthcare company by market capitalization  

 (Reporting by Khushi Mandowara and Pratik Jain in Bengaluru)
 ((Khushi.Mandowara@thomsonreuters.com))