Is Eli Lilly and Company (LLY) One of the Best Strong Buy Growth Stocks to Buy Right Now?

Eli Lilly and Company (NYSE:LLY) is one of the best strong buy growth stocks to buy right now. Reuters reported on May 1 that Foundayo, which is Eli Lilly and Company’s (NYSE:LLY) newly launched oral weight-loss drug, hit 5,612 prescriptions in the United States in the third week following its launch, as per analysts citing IQVIA data. It further reported that RBC Capital Markets analyst Trung Huynh was of the opinion that, on initial look, the prescription data would be negatively perceived by investors. However, Huynh added that “based on ~20,000 patients on Foundayo, as of yesterday’s earnings call, it appears there is a capture rate issue with the data”.

Previously, on April 24, Reuters reported 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. Reuters provided additional perspective in the context of Eli Lilly and Company’s (NYSE:LLY) rival Novo ​Nordisk’s Wegovy pill. It reported that Wegovy has been on the market since January and had 3,071 prescriptions in its first week, followed by 18,410 prescriptions in the second week.

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

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