Cathie Wood Is Loading Up on This GLP-1 Stock That Has Soared 1,600% Over the Past 10 Years
Maybe you should, too.
Overview
Cathie Wood, the CEO of Ark Investment Management, is a staunch believer in innovation. The firm she leads is known for investing in companies making breakthroughs across various fields, including healthcare. One leader in the sector that Cathie Wood is doubling down on is Eli Lilly (NYSE: LLY), the top player in the GLP-1 market. Eli Lilly has made significant breakthroughs over the past decade, and the stock has outperformed broader equities, gaining over 1,600% during this period. But can the stock still deliver solid returns?
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Eli Lilly's tirzepatide, a GLP-1 medicine indicated to treat diabetes, weight loss, and obstructive sleep apnea, is breaking records. Tirzepatide exceeded $30 billion in annual sales last year across all its indications, a feat almost unheard of for a medicine first approved just four years ago. Tirzepatide still has strong momentum and should allow Eli Lilly to post excellent revenue and earnings growth over the medium term. But there are plenty of other reasons to be excited about the company's prospects.
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Originally published at www.fool.com.