Eli Lilly's Stock Drops as It Slashes the Price of Zepbound: Time to Buy the Dip?

Eli Lilly (NYSE: LLY) has been firing on all cylinders over the past two years and recently became the first healthcare company to hit $1 trillion in market value. The drugmaker owes much of that performance to tirzepatide, a medicine marketed as Zepbound for weight loss. Sales of this drug have been growing incredibly rapidly, enabling Eli Lilly to post excellent financial results.However, the drugmaker recently announced that it was cutting the price of Zepbound, and the stock dropped as a result. Should investors buy the dip? Or does this news make Eli Lilly's shares less attractive?On Dec. 1, Eli Lilly announced that it was decreasing the prices of Zepbound single-dose vials for out-of-pocket patients who have received valid prescriptions for the medicine. The cost will now range from $299 to $449 per month, compared to the previous range of $349 to $499. Eli Lilly will offer the drug at these prices through its own online health platform.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool