Novo Nordisk's Strong Results Boost Eli Lilly Stock Despite Looming Competition
- Rival Novo Nordisk posted strong 2023 results, boosting Eli Lilly stock
- Novo Nordisk sales up 31% and profits up 51% due to diabetes and obesity drugs
- Eli Lilly has similar promising diabetes and weight loss drugs awaiting approval
- Competing against established Novo Nordisk drugs will be challenging
- Eli Lilly stock rose slightly, handily beating the S&P 500's decline