Pharmaceutical company Eli Lilly (LLY) is partnering with technology giant JD.com (JD) to market and sell weight-loss drugs in China.
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Eli Lilly has signed a deal with China’s JD Health, the healthcare arm of JD.com, to sell its obesity and Type 2 diabetes medications in the Chinese market through a digital platform. The platform, to be operated by JD Health, will serve as a one-stop shop for chronic disease management, according to an announcement by Eli Lilly.
In addition to connecting Chinese patients with healthcare provider consultations, the online platform will also help people secure prescriptions for and shipments of Eli Lilly’s popular weight-loss drug Zepbound and its Type 2 diabetes medication Mounjaro. The platform will also offer follow-up services for long-term care management and disease education resources.
Big Market
With 1.4 billion people, China is the world’s largest pharmaceutical market and a key focus of Eli Lilly and other drug makers. It’s estimated that there are 148 million adults in China who have Type 2 diabetes and more than 500 million who are overweight or obese.
Eli Lilly and JD.com said they plan to continue to grow their collaboration to offer Chinese patients access to treatments and care across more disease areas, including heart health and cancer. Eli Lilly is trying to grow its footprint in China. Last year, the company appointed a new president of its business in the country, and CEO David Ricks has visited China and promised to increase investment in the country.
Is LLY Stock a Buy?
The stock of Eli Lilly has a consensus Moderate Buy rating among 22 Wall Street analysts. That rating is based on 16 Buy and six Hold recommendations issued in the last three months. The average LLY price target of $904.76 implies 23.50% upside from current levels.
