Jim Cramer on Eli Lilly: “They Need to Have Something Else to Come Out”

Eli Lilly and Company (NYSE:LLY) is one of the stocks Jim Cramer recently answered questions about. Answering a caller’s query about the stock during the episode, Cramer said:

“Here’s the problem with Lilly: they need to have something else to come out. They need something that’s big that the insurance companies will cover, for their drug, because right now, a lot of people just feel, you know what, this Ozempic thing, it’s played out. If you get something else, a new indication, that will ignite the stock.”

Eli Lilly and Company (NYSE:LLY) develops and sells a wide range of prescription medicines, including treatments for diabetes and obesity, cancer therapies, and drugs for autoimmune, neurological, and pain-related conditions. It is worth noting that on October 1, Cramer said:

“I suggest, for example, that you consider Eli Lilly because of its remarkable GLP-1 diabetes and weight loss drug. Those are the most obvious uses. But when this year is over, I gotta tell you something, I think it could be used for everything from the silent killer of hypertension to dementia, and yes, alcoholism. Lilly’s stock has been stalled because of the drug’s clumsy delivery mechanism.

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READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.

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