11 Best Stocks to Invest in for Long Term Growth

2. Eli Lilly and Company (NYSE:LLY)

EPS Forward Long Term Growth (3-5 Year CAGR): 32.34%

Number of Hedge Fund Holders: 119

Eli Lilly and Company (NYSE:LLY) is one of the best stocks to invest in for long-term growth. Eli Lilly and Company (NYSE:LLY) launched the easy-to-use injector pen of its weight-loss and diabetes drug, Mounjaro in India on August 13. The launch comes two months after its rival Novo Nordisk released its weight loss drug Wegovy in the country.

Eli Lilly launched  Mounjaro in India in March, but only available through vials. The easy-to-use injector pen makes the drug much easier to administer.

The most populous country is seeing an increasing number of obesity and type 2 diabetes cases, which has created a huge market for weight-loss and diabetes treatments. The drug company is charging 14,000 Indian rupees ($160.6) for the starting dose of 2.5 mg, according to Reuters.

That said, Eli Lilly does have to compete with not only Wegovy, but also cheaper generic versions of the drugs, which are made in India, making Mounjaro more expensive, relatively speaking, to the generally price-sensitive Indian people.

Wall Street is bullish on the stock with an average “Buy” rating, an average implied upside of 28.17%.