Weight-Loss Drug Boom: Philanthropy Powerhouse Emerges As Lilly Endowment Comes Closer To Gates Foundation
Portfolio Pulse from Vandana Singh
The Lilly Endowment, principal stakeholder in Eli Lilly & Co. (NYSE:LLY), has seen its assets grow to $60 billion, largely due to the success of Eli Lilly's weight-loss drug, Mounjaro. Eli Lilly's stock rose nearly 60% in the past year, enabling the endowment to increase its philanthropic giving to $2 billion in 2023. This growth brings the endowment closer to the Gates Foundation in terms of assets. However, analysts express concerns about the sustainability of the stock's performance in 2024 due to potential competition and valuation issues. The Lilly Endowment focuses on Indiana-based and religious organizations, operating independently from Eli Lilly despite shared board members.
January 05, 2024 | 5:51 pm
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NEUTRAL IMPACT
Eli Lilly & Co.'s stock has significantly contributed to the growth of the Lilly Endowment's assets, reaching $60 billion, due to the success of its weight-loss drug, Mounjaro.
While the success of Mounjaro has led to a significant increase in Eli Lilly's stock price and the Lilly Endowment's assets, analysts' concerns about the sustainability of this growth in 2024 could lead to a neutral short-term impact on the stock price.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 100