10 Best Dividend Growth Stocks to Buy and Hold for 3 Years

6. Eli Lilly and Company (NYSE:LLY)

5-Dividend Growth Rate: 15.23%

In a CNBC report published on May 21, Eli Lilly and Company (NYSE:LLY) said its experimental obesity drug, retatrutide, cleared a major late-stage clinical trial. The results moved the company closer to seeking regulatory approval for the treatment. The Phase 3 trial showed that patients without diabetes who received the highest dose of the weekly injection lost an average of 28.3% of their body weight over 80 weeks. More than 45% of participants lost at least 30% of their weight. Analysts said those results were comparable to outcomes often seen with bariatric surgery.

Retatrutide is viewed as a next-generation obesity treatment because it targets three hormones, GLP-1, GIP, and glucagon. Current drugs like Wegovy and Zepbound target fewer pathways. The strong trial data increased expectations that retatrutide could become one of the most effective weight-loss treatments on the market. The report also said that safety concerns seen in earlier studies appeared to ease in the latest trial. Patients still reported side effects such as nausea, diarrhea, vomiting, and constipation, though most were gastrointestinal and considered manageable. Fewer participants experienced the abnormal skin sensations that had raised concerns in previous studies.

After the results were released, Lilly’s shares moved higher as investors viewed the data as another important step in strengthening the company’s position in the fast-growing obesity drug market. The company is expected to continue additional studies and could potentially launch retatrutide following regulatory review.

Eli Lilly and Company (NYSE:LLY) develops, manufactures, and markets medicines through a single business segment focused on human pharmaceutical products.

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