Eli Lilly and Company (NYSE:LLY) is included among the 16 Best Dividend Stocks with Growing Payouts.
According to a Reuters report on Feb. 18, Australia’s CSL said it had granted Eli Lilly and Company (NYSE:LLY) certain rights to develop and commercialize clazakizumab, an anti-interleukin-6 monoclonal antibody. In exchange, CSL will receive an upfront payment of $100 million. CSL will retain exclusive rights to develop and commercialize the treatment to prevent cardiovascular events in patients with end-stage renal disease.
Under the agreement, Eli Lilly will focus on developing and commercializing the therapy in other areas. CSL could also receive additional payments tied to clinical, regulatory and commercial milestones, along with royalties based on global net sales.
In a separate update, a Feb. 12 Reuters report said Eli Lilly had built up $1.5 billion in inventory ahead of the launch of its experimental oral weight-loss drug. This was revealed in a regulatory filing ahead of a possible decision by the US Food and Drug Administration expected in April.
The company had previously reported about $550 million in inventory ahead of the launch of the drug, known as orforglipron. Lilly has said it expects to have enough supply ready to support a launch in several countries around the same time, if the drug receives approval. Drugmakers typically report that inventory in their financial statements to show how much product has been prepared ahead of potential regulatory approval.
Eli Lilly and Company (NYSE:LLY) is a pharmaceutical company that discovers, develops, manufactures and sells medicines to patients around the world.
While we recognize LLY’s potential as an investment, we believe certain AI stocks offer greater growth potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that’s also benefiting significantly from Trump-era tariffs and the offshoring trend, check out our free report on best short-term AI stock.
READ NEXT: The 13 Best Roth IRA Stocks to Buy Now and 13 cheapest dividend aristocrats to invest in
Divulgation: None.