Jim Cramer Sees Big Potential in Eli Lilly's Weight-Loss and Diabetes Pill

Eli Lilly and Company (NYSE:LLY) is one of the stocks that Jim Cramer shared insight on. A caller inquired about the company, noting its recent approval for a memory loss treatment. Cramer replied:

“Okay, the memory loss is not that important… because it’s just a very hard thing. I mean, actually, if you want memory loss, you buy Amgen because Repatha is doing really well in the memory loss category. Here’s what you need to know: That Lilly thing this morning comes out.. I’m going with Jeff Marks, and I’m like yelling, I’m saying listen, this is a really big deal… I say the stock was up at 12. I said… read the first test versus the second test. The first test is a lot about… just weight, the second one’s got diabetes, this is the pill. Okay, bear with me, it’s a pill. If you strip out the people who like don’t [try] very hard to lose weight, this pill is going to lose you, I think, between 12 and 15 pounds. And that’s why Lily, instead of being up 12, went up 40, okay? I was surprised nobody asked about Lily today. It’s kind of odd.”

Eli Lilly and Company (NYSE:LLY) develops and markets pharmaceutical products in diabetes, obesity, oncology, immunology, neuroscience, and additional therapeutic areas.

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