E-commerce giant Amazon (AMZN) is offering same-day delivery of Eli Lilly’s (LLY) new weight-loss pill called Foundayo.
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Forget margin or options. Here's how the pros trade AMZNAdditionally, Amazon said that its pharmacy unit will stock Eli Lilly’s weight-loss pill at kiosks located at some of its primary care clinics. Amazon Pharmacy has delivered weight-loss medications since 2021, but doesn’t stock injectable versions of the drug in its kiosks because they must be refrigerated.
The lack of need for cold storage enables Amazon to broaden access to the medication for consumers, said the technology giant in a written statement. About half of Amazon’s customers in the U.S. have access to same-day delivery, and the company continues to expand that service.
Selling Eli Lilly’s Weight-Loss Drugs
News of Amazon Pharmacy’s plans to sell and ship the weight-loss pill comes as Eli Lilly ramps up its efforts to market and distribute Foundayo after receiving U.S. regulatory approval for the medication on April 1 of this year.
Eli Lilly announced in recent days that it will begin selling its newly approved Foundayo weight-loss pill directly to cash paying customers through its LillyDirect website at a cost of $149 per month for the lowest dose of the drug.
Is LLY Stock a Buy?
The stock of Eli Lilly has a consensus Strong Buy rating among 19 Wall Street analysts. That rating is based on 16 Buy, two Hold, and one Sell recommendations issued in the last three months. The average LLY price target of $1,247.38 implies 31.53% upside from current levels.
