Why Eli Lilly Stock Trounced the Market Today

Wednesday was a good day for American stocks generally, but it was even sunnier for Eli Lilly (NYSE: LLY). The pharmaceutical giant won regulatory approval for a product that's bound to be very popular, and investors rewarded the company by pushing its stock nearly 4% higher on the day. That crushed the S&P 500 index's 0.7% gain.Before market open, Eli Lilly announced that the U.S. Food and Drug Administration (FDA) approved its Foundayo weight-loss product. What makes this groundbreaking for the company is that Foundayo is a daily pill. The pharmaceutical titan's first approved weight-loss drug, the popular Zepbound, is delivered by injection once per week. The two also use different molecules to do their work. Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool