Eli Lilly and Novo shares sold off. Don’t blame their diet pills.

news7f02/03/2023

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Eli Lilly and Novo shares sold off. Don't blame their diet pills.

stocks in

and

outperformed last year, largely due to notable demand for New drug for weight loss in patients with diabetes and obesity.

Both stocks was lower this week, after companies reported December quarter results. Lilly (ticker: LLY) fell 4% through Thursday to $330.70, due to investor frustration that sales in The quarter was affected due to a decrease in the company’s demand for treatment with Covid antibodies. new (

NVO

) fell 6% to Thursday’s close of $132.34.