5 Best Stocks to Buy Now for Long Term Growth

4. Eli Lilly and Company (NYSE:LLY)

Number of Hedge Fund Holders: 132

Eli Lilly and Company (NYSE:LLY) is one of the best stocks to buy now for long term growth. Eli Lilly and Company (NYSE:LLY) announced on May 28 that its full obesity medicine portfolio would now be covered by all three of the largest pharmacy benefit managers in the nation. This considerably expands the number of Americans who can use their existing insurance to access FDA-approved options.

Management reported that coverage from CVS Caremark Commercial Template would begin from June 1 for Foundayo, and coverage would continue uninterrupted for current Zepbound patients, with access broadening across template plans by October 1. In addition, eligible patients with commercial coverage can access both medicines for as little as $25 a month. Eli Lilly and Company (NYSE:LLY) also stated that Medicare Part D beneficiaries may also be eligible to pay $50 per month for their obesity medicines beginning July 1 through the Medicare GLP-1 Bridge program.

For reference, Reuters reported on April 24 that according to analysts citing IQVIA data, Eli Lilly and Company’s (NYSE:LLY) Foundayo was prescribed 3,707 times in the United States in the second week following its launch earlier in the month. The pill had 1,390 prescriptions in its first week of launch.

Eli Lilly and Company (NYSE:LLY) develops, manufactures, discovers, and sells pharmaceutical products. These products span oncology, diabetes, immunology, neuroscience, and other therapies.