Goldman Sachs Remains Positive as Eli Lilly (LLY) Expands Obesity Drug Pipeline

Eli Lilly and Company (NYSE:LLY) is one of the top stocks to buy and hold forever. The company’s strength lies in its strong moat from a patent-protected drug pipeline and diabetes/obesity leadership. Eli Lilly and Company (NYSE:LLY) estimates its addressable market of patients with obesity and obesity-related co-morbidities to be over 170 million patients in the US, with an opportunity outside the US of over 1 billion by 2030.

Reflecting this potential, Goldman Sachs analyst Asad Haider on August 15 reiterated a Buy rating on Eli Lilly and Company (NYSE:LLY) with a price target of $876, following results from the ATTAIN-1 trial of its oral obesity drug, orforglipron. Initial market reactions were cautious, but feedback from medical experts, generally known as key opinion leaders (KOLs), was broadly constructive, with many viewing efficacy and tolerability as competitive.

Physicians indicated they would prescribe orforglipron more often, especially for patients preferring oral treatments over injectables. Pricing is still being discussed, but expectations suggest a discount versus injectable therapies. The upcoming ATTAIN-2 trial is expected to shed more light on the drug’s positioning.

Eli Lilly and Company (NYSE:LLY) is a global pharmaceutical company focused on the development, manufacture, and marketing of medicines for diabetes, oncology, immunology, and neuroscience.

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Disclosure: None. This article is originally published at Insider Monkey.