Jim Cramer’s Take on 24 Stocks: Cisco, Eli Lilly, and Ford

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22. Eli Lilly and Company (NYSE:LLY)

Eli Lilly and Company (NYSE:LLY) was one of the stocks on which Jim Cramer shared his take, explaining that dot-com analogies do not hold up in this market. During the lightning round, a caller inquired about the stock, and Cramer replied:

Eli Lilly, I did a tremendous amount of work on Eli Lilly. I was up late last night working on Lilly, and this morning I worked on Lilly. I gotta tell you, I am ready to roll Lilly, and I think it’s really, really good. I would love to sit down with anyone from Lilly and tell them how I feel because I think it is a bull market for Eli Lilly.

Eli Lilly and Company (NYSE:LLY) develops and markets medicines for diabetes, obesity, oncology, immunology, neuroscience, and other chronic conditions. Cramer mentioned the company during the April 30 episode and said:

Okay, then there’s one that’s totally away from manufacturing or industry or tech, and that’s Eli Lilly. It was up 10%. Lilly astounded people today by reporting a fantastic quarter with encouraging prescription data for the new pill form of the GLP-1 drug, Foundayo. There was some worry that this drug had gotten off to a slow start. A lot of rumors going around Wall Street that it was a bummer. Novo Nordisk was said to be way ahead of Lilly because it got approved earlier. As is often the case, the Wall Street gas-bags got it wrong.

When David Ricks, CEO of Lilly, came on CNBC this morning, he said that things were pretty strong. Strong demand for the pill, more than 20,000 people now taking it, even as the company had only just started marketing it and building the brand. That’s good news for my Charitable Trust. We’ve been telling people to stick with Lilly no matter what. Just too much good going on there. I think that Eli Lilly’s gain today is sensational, and this company is creating a lot of jobs… But it is, alas, a healthcare company, and healthcare companies are not indicators of good times. When it comes to the stock market, drug companies, they’re bad leaders.

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