The Globe and Mail reports in its Saturday edition that Scotia Wealth's Stan Wong is "constructively optimistic" about short-term equities, citing strong corporate earnings and the potential certainty from the upcoming U.S. midterm elections. The Globe's Brenda Bouw writes that Mr. Wong likes Eli Lilly. The Indianapolis-based multinational pharmaceutical company, is a stock Mr. Wong has held Eli Lilly for a couple of years. He made it a bigger part of his portfolio recently.
He says: "People think of Eli Lilly as the diabetes and weight-loss company behind Mounjaro and Zepbound, but it's much bigger than a weight-loss story. These GLP-1 drugs are also transforming treatment for cardiovascular and kidney disease.
Eli Lilly is expected to capture a large share of the fast-growing GLP-1 market. (Bloomberg Intelligence estimates the global market for anti-obesity medications driven by GLP-1 drugs could reach $120-billion(U.S.) annually by 2030, up from around $50-billion (U.S.) today). We see strong earnings momentum ahead, given the global scale and the promise of more treatments in other areas. The Globe reported on March 16 that money manager Fiona Wilson was keen on Eli Lilly. It was then worth $988.87 (U.S.).
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