Intel stock extends gains after report of possible U.S. government stake
INDIANAPOLIS—Lilly Endowment Inc, a significant shareholder in Eli Lilly & Co (NYSE:LLY), disclosed the sale of a substantial number of shares in a recent filing with the Securities and Exchange Commission. On February 19, 2025, the endowment sold a total of 9,985 shares of Eli Lilly common stock, generating proceeds of approximately $8.77 million.
The shares were sold at prices ranging from $877.373 to $880.443 per share. Following these transactions, Lilly Endowment Inc retains ownership of 96,636,547 shares in Eli Lilly. The sales were executed in multiple transactions over the course of the day, as noted in the filing.
Lilly Endowment Inc is recognized as a 10% owner of Eli Lilly, one of the largest pharmaceutical companies in the world, known for its innovative drug development and research.
In other recent news, Eli Lilly and Company has issued $6 billion in new debt securities across six tranches with varying maturities from 2028 to 2065. The funds from this issuance, estimated at $6.46 billion after deductions, are intended for general corporate purposes, including refinancing existing debt and funding capital expenditures. Additionally, Eli Lilly has announced a $6.5 billion six-part note offering, receiving ratings of Aa3 from Moody’s (NYSE:MCO) and A+ from S&P, both with stable outlooks. In a significant development, Moody’s Ratings upgraded Eli Lilly’s issuer rating to Aa3, citing expectations of robust earnings growth driven by the company’s incretin portfolio and other products.
Eli Lilly also reported promising results for its Crohn’s disease treatment, Omvoh, with sustained efficacy over two years as presented at the Crohn’s and Colitis Congress. The drug, approved by the FDA for Crohn’s disease, demonstrated a high rate of clinical remission and endoscopic response among patients. Furthermore, Bernstein research firm reiterated an Outperform rating for Eli Lilly, maintaining a price target of $1,100, amid positive developments in the weight loss treatment sector. Analyst Courtney Breen noted that Eli Lilly is well-positioned in the competitive market, particularly with its drug Tirzepatide, following competitor Novo Nordisk (NYSE:NVO)’s delay in their own weight loss drug, CagriSema.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.