LLY·Eli Lilly and Company

Eli Lilly (LLY) announced positive Phase 3b results for a combination treatment of Taltz and Zepbound, showing superior outcomes for psoriasis patients with obesity, which could expand the addressable market for these drugs. This development, which showed significant skin clearance and weight loss, reinforces LLY's multi-disease treatment strategy and could drive increased demand for these products. Simultaneously, ORBIMED Advisors reduced its stake in Terns Pharmaceuticals, where LLY is a significant holding, which could signal a shift in investment strategy or portfolio adjustments. Further, LLY's Retevmo showed positive results in a Phase 3 trial for early-stage lung cancer, reducing the risk of recurrence, which could boost its oncology portfolio. Data also indicates that Omvoh maintained steroid-free remission for three years in Crohn's disease patients, potentially solidifying its position in the market. Berenberg adjusted its price target for LLY to $1,050 while maintaining a Hold rating, suggesting a moderately positive outlook. However, the CEO participated in a discussion about responsible leadership, where CEOs expressed uncertainty, which may reflect broader market concerns.