Eli Lilly: shares fall after successful Novo Nordisk trial.
(CercleFinance.com) - Eli Lilly shares dropped after rival Novo Nordisk released positive topline data from a study comparing their once-weekly diabetes drug to Lilly's once-weekly Trulicity.
According to the results released by the Danish drugmaker, a phase-3 study showed that semaglutide is superior to Lilly's dulaglutide for glucose control and weight loss in people with type-2 diabetes.
According to Credit Suisse analysts, this data raises questions on the sustainability of Eli Lilly's five-year growth outlook.
"We would expect semaglutide to be a fairly formidable competitor to Trulicity and slow down the growth of what we see as Lilly's most important product," the brokerage firm said.
However, Credit Suisse still maintains its "outperform" rating on Eli Lilly shares, with a target price of 88 euros.
The stock is currently down 1.6% at 79.4 dollats on Thursday morning on the NYSE.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
According to the results released by the Danish drugmaker, a phase-3 study showed that semaglutide is superior to Lilly's dulaglutide for glucose control and weight loss in people with type-2 diabetes.
According to Credit Suisse analysts, this data raises questions on the sustainability of Eli Lilly's five-year growth outlook.
"We would expect semaglutide to be a fairly formidable competitor to Trulicity and slow down the growth of what we see as Lilly's most important product," the brokerage firm said.
However, Credit Suisse still maintains its "outperform" rating on Eli Lilly shares, with a target price of 88 euros.
The stock is currently down 1.6% at 79.4 dollats on Thursday morning on the NYSE.
Copyright (c) 2017 CercleFinance.com. All rights reserved.