Why Eli Lilly, Novo Nordisk, and Viking Therapeutics Stocks All Dropped on Tuesday

Bad news for Eli Lilly (NYSE: LLY) stock dragged down shares of rival companies in the market for GLP-1 diet drugs on Tuesday. Lilly updated investors on its expected revenue for 2024 this morning, and gave new guidance for 2025 revenue as well — and while its 2025 prediction was a bit more than Wall Street had expected, its prediction for 2024 was a bit less. As of 10:45 a.m. ET, Lilly shares are shedding 6%.

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