Why Eli Lilly Stock Climbed to a New All-Time High Today

Eli Lilly's stock reached a record high following positive Phase 3 clinical trial results for retatrutide, its investigational weight loss drug. The drug demonstrated substantial weight loss (up to 70 pounds at the highest dose) with mild to moderate side effects. This positions Eli Lilly to lead the $200 billion obesity treatment market, while competitor Zealand Pharma faced stock declines due to disappointing results for its obesity drug.