Eli Lilly (NYSE:LLY) stock is in the news Wednesday after the company reached an agreement to sell its weight loss drug through Amazon (NASDAQ:AMZN)!
This partnership has Amazon Pharmacy fulfilling direct orders for Eli Lilly made through its LillyDirect platform. This is a direct-to-customer service offered by the pharmaceutical company.
LillyDirect only launched in January but the company says it’s seeking increasing interest in the direct-to-customer model. That’s why it’s partnering with Amazon to meet the demand for its medicine. This includes the weight loss drug Zepbound and other prescriptions.
Eli Lilly CEO Dave Ricks says that the company is currently having trouble keeping up with orders through LillyDirect. However, he notes that one benefit of the platform is the ability to let customers know exactly when it will have medicines in stock. He believes this gives the platform an advantage over traditional pharmacies.
What This Means for LLY Stock
If Eli Lilly really is seeing as much demand as Ricks claims, it could be a boon to the company’s shares. There’s no doubt that weight loss drugs have been in high demand lately too. This could result in happy investors when the company’s earnings report for the current quarter is released.
LLY stock is up slightly as of Wednesday morning.
Investors looking for all of the latest stock market news will want to stick around!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
