Dear Reader,
We got a lot of notes this weekend, folks asking about Eli Lilly. So I recorded this quick video for you.
The stock was up big after reporting killer second quarter earnings.
The company did $11.3 billion in revenue, up 36% this past quarter, which is just huge. It’s unbelievable.
Wall Street was expecting $9.9 billion in revenue. So this was just a massive surprise.
The stock jumped up over 100 points.
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So some readers have been writing in wanting to know whether it’s time to sell, and that’s a fair question.
I mean, we recommended it at half the price we saw last week. But I still like it here.
I listened to the earnings call and two things struck me about this call.
First, Eli Lilly’s CEO David Ricks said: “We see just unbelievable demand, and we’re not even trying that hard to promote this drug. We’re not advertising…”
He’s talking about Zepbound, of course, their weight loss drug.
This drug is revolutionizing Eli Lilly’s business; but not only the way we treat weight loss…
It’s going to revolutionize the way we treat a whole host of diseases.
The second thing that struck me about this earnings call was that he said Zepbound is now available on 86% of commercial insurance coverage lists.
So what we’re seeing here from the time we recommended it around March of last year is:
Drug gets approved…
People start rushing in to pay for it, to pay basically retail for it, and it still gets more widely adopted.
And now, it’s such a powerful drug that even insurance companies are saying, we can’t not cover this drug.
Which is kind of what we talked about when we first recommended it. I just couldn’t understand how it wouldn’t get covered.
And maybe I have extra insight because I was the fat kid growing up – so I was like, “this is going to be BIG!”
Anyway, I thought it was important to record this for you because I got like three questions asking about Eli Lilly this weekend.
And I also want to invite you to email in any questions you have, and I’ll answer them on these videos.
I’m happy to do that – really.
So, the weight-loss story is starting. We are in, say, the third inning of the weight loss story.
There is still a lot of room to grow, and I’ve talked to you about this in the past…
Like I’ve said, I’m looking for other companies to invest in.
I still like Eli Lilly. I still like Novo Nordisk.
We’ve taken profits on some of the smaller players in this trend – we’ve taken 300% profits on Viking… 200% profits on Altimmune.
We’ve traded in and out of those particular stocks, and my team and I are evaluating smaller stocks around this trend.
There are going to be some great opportunities we’ll be talking to you about in the coming days and weeks, so stay tuned.
Here’s our latest research report on these weight-loss stocks.
“The Buck Stops Here”
P.S. Don’t forget to send in your questions to customer service – like I said, I love to answer them in my Diary videos. If you can use the subject line QUESTION FOR DYLAN, my team will get them right to me.
