JPMorgan analyst Chris Schott sees a limited read-through to Eli Lilly (LLY) from Novo Nordisk’s (NVO) lowered 2025 guidance. JPMorgan views Novo’s update as largely company-specific. The analyst does not see a read-though to Lilly based on the “strong” Zepbound and Mounjaro volume trends JPMorgan has seen year-to-date. As discussed by Novo this morning, Mounjaro and Zepbound continue to take meaningful share of new patients starts, which is driving strong script growth for Lilly, the analyst tells investors in a research note. The firm keeps an Overweight rating on Lilly with a $1,100 price target. The stock in morning trading is down 4% to $774.72.
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