Ethan Pitzel ’24 pitched Eli Lilly & Co. (NYSE: LLY) on February 26th 2024. Eli Lilly is a global leader in the pharmaceutical industry, discovering, developing, manufacturing, and marketing products across diabetes, immunology, oncology, neuroscience, and other pharmaceuticals segments. It markets over 50 drug offerings across over 120 countries in 2023 with products including Trulicity, Mounjaro and Zepbound.
The investment thesis was fueled by the growth in the GLP-1 market and Eli Lilly’s role within it, along with the company’s innovative pipeline of pharmaceuticals and strong, established drug offerings. Novo Nordisk (NYSE: NVO) was also pitched due to its positioning in the GLP-1 space. The class voted to purchase approximately $120,000 of LLY and $45,000 of NVO funded by the sale of the Healthcare Select SPDR (NYSE: XLV) and Zoetis Inc. (NYSE: ZTS). In conjunction with this sale, the class chose to purchase an additional approximately $18,500 of Medtronic (NYSE: MDT) to further consolidate active risk positions within the sector.