LLY is trading at $1037.00 (+2.72%) in pre-market action after Eli Lilly's Mounjaro outperformed Novo Nordisk's rival drug CagriSema in a head-to-head clinical study.
- Shares of LLY rose as much as 4% following the trial results, while competitor Novo Nordisk (NVO) saw its shares tumble 15% on the news.
- The gains build on recent momentum from breakthrough data on retatrutide, which demonstrated surgery-level weight loss efficacy in recent clinical updates.
- The stock is significantly outperforming the broader market, which remains under pressure due to concerns over potential tariff hikes.