BUZZ - Eli Lilly shares rise after approval of China's first weight-loss drug

November 12 - ** Eli Lilly (LLY.N) shares rose 3.3% in pre-market trading to $1,485

** The company (link) became the first pharmaceutical firm approved to sell a GLP-1 weight loss drug in China

** The approval of orforglipron gives Eli Lilly (LLY) an edge over Novo Nordisk (NOVOb.CO), which has also applied to sell an oral version of its Wegovy pill in China

** Eli Lilly has not yet responded to requests for comment regarding the pricing strategy and launch timing for orforglipron in the Chinese market

** Since late April, Eli Lilly (LLY) shares have remained above their 200-day moving average

** Of 33 brokerages, 27 rate the stock as “buy” or higher, 5 as “hold,” and 1 as “sell”; the median target price is $1,570 — LSEG

** As of the close of the previous trading day, the stock is up 33.7% year-to-date, while the S&P 500 index .SPX is up 11.3% over the same period

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