Cantor says Eli Lilly obesity approval to drive tirzepatide acceleration

After the FDA approved Eli Lilly’s (LLY) tirzepatide, or Zepbound, injection for chronic weight management in adults with obesity, Cantor Fitzgerald said the approval for Zepbound “was a mostly a forgone conclusion,” but thinks it will still drive sales acceleration for tirzepatide. The approval “interestingly” comes ahead of the detailed presentation of Novo Nordisk’s (NVO) SELECT cardiovascular outcomes study at the American Heart Association meeting, added the analyst, who says the Street is interested in how much cardiovascular mortality benefit was seen in that study. The firm, which believes Lilly is entering a period of earnings growth through 2030, has an Overweight rating and $630 price target on the shares.