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Investing.com - BMO Capital has reiterated its Outperform rating and $900.00 price target on Eli Lilly (NYSE:LLY) following positive clinical trial results for its weight loss combination therapy.
The BELIEVE trial showed that combining bimagrumab with semaglutide led to a 22.1% reduction in body weight at 72 weeks, compared to 15.7% for semaglutide alone, according to BMO Capital’s analysis.
The firm noted that these results strengthen the regulatory approval case for body composition assets like bimagrumab, demonstrating robust incremental weight loss over incretin therapy alone.
BMO Capital acknowledged some safety considerations, including transient elevations in ALT/cholesterol levels and more permanent rises in lipases that require further evaluation.
The research firm highlighted additional benefits observed in the trial, including improvements in cardioprotective adiponectin, reductions in hsCRP, and HbA1c, suggesting the combination therapy could potentially offer clinical benefits beyond weight loss with additional data.
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