Shares of diabetes-related stocks closed lower following data from Lilly showing weekly Tirzepatide injections reduced the risk of progression to type 2 diabetes by 94% in adults with pre-diabetes and obesity.
Portfolio Pulse from Benzinga Newsdesk
Diabetes-related stocks fell after Eli Lilly's data showed Tirzepatide injections significantly reduce the risk of progressing to type 2 diabetes.
August 20, 2024 | 8:30 pm
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POSITIVE IMPACT
Eli Lilly's Tirzepatide injections show a 94% reduction in type 2 diabetes risk, potentially boosting the company's market position in diabetes treatment.
The positive data on Tirzepatide could enhance Eli Lilly's competitive edge in the diabetes market, likely leading to increased investor confidence and a potential rise in stock price.
CONFIDENCE 100
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Dexcom shares fell as Eli Lilly's Tirzepatide data suggests a reduced need for continuous glucose monitoring in pre-diabetic patients.
The effectiveness of Tirzepatide in reducing diabetes progression may decrease the demand for continuous glucose monitoring, negatively impacting Dexcom's market.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80