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Eli Lilly Shares Plunge 14% Despite Blockbuster Drug Performance
Eli Lilly Shares Plunge 14% Despite Blockbuster Drug Performance
23
2
BTCCSquare news:
Eli Lilly's stock tumbled 14.14% to $640.86 on August 7, defying a 38% revenue surge driven by its weight-loss drugs Zepbound and Mounjaro. The pharmaceutical giant posted $15.56 billion in Q2 revenue, with volume growth offsetting price declines, yet investors reacted to profit-taking concerns and tax rate implications.
The market's bearish response highlights the disconnect between fundamental performance and short-term sentiment. While Lilly raised its full-year guidance, the selloff reflects heightened volatility in healthcare equities despite strong underlying demand for GLP-1 therapies.
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