Citi Bullish On Lilly Upcoming Diabetes Data Readout
- Citi has increased peak risk-adjusted Eli Lilly And Co's tirzepatide forecasts (diabetes/ obesity/NASH) to more than $25 billion (previously $15 billion, consensus of around $16 billion).
- The analyst says that the ongoing feedback from physicians/payers continues to boost the optimism for broader access, reimbursement, and adoption amid the previously unforeseen glucose and weight-lowering properties.
- Citi increased the price target to $370 from $285 with a Buy rating.
- Potential weakness for the drug could come when Eisai Ltd
ESALY
and/or Roche Holdings AG RHHBY
release data of lecanemab and gantenerumab, respectively as an attractive opportunity to add to positions. - Citi expects around a 65% probability that LLY's TRAILBLAZERALZ 2 meets its primary endpoint in mid-2022.
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