Eli Lilly sees revenue growth driven by GLP-1 therapies

Eli Lilly and Company continues to see significant market activity driven by its GLP-1 metabolic therapies, including tirzepatide, marketed as Mounjaro and Zepbound. The company reported $23 billion in revenue for the second quarter, a 48% year-over-year increase, fueled by demand for weight management and diabetes treatments. The FDA has recently expanded Mounjaro’s approved uses to include reducing the risk of major adverse cardiovascular events in high-risk adults with type 2 diabetes.

Institutional investment in the company has seen varied movement during the second quarter. GTS Securities LLC reduced its stake by 52.6%, while other firms like Alyeska Investment Group L.P. and Bluefin Capital Management LLC established new positions. Additionally, Putnam Investment Management Co., Wedbush Securities Inc., and Rational Advisors Inc. all increased their holdings. Institutional investors and hedge funds currently own approximately 82.53% of the company's stock.