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Why Eli Lilly, Viking Therapeutics, and Novo Nordisk Stocks All Popped Friday
GLP-1 drug prices are falling. That's good news for patients, but perhaps not such good news for pharmaceutical stock investors.
Positive jobs news and positive rumors out of China are lifting stock markets today, as the U.S. Labor Department reports adjusted nonfarm payrolls grew by 177,000 jobs in April, and CNBC reports that China may be "evaluating the possibility of starting trade negotiations" that could abbreviate a trade war with the U.S.
Within the pharmaceuticals industry in particular, shares of Eli Lilly (NYSE: LLY), Novo Nordisk (NYSE: NVO), and Viking Therapeutics (NASDAQ: VKTX) are all looking to close out the week strong. As of 10:30 a.m. ET, Lilly stock is gaining 2.8%, Viking is up 3.5%, and Novo Nordisk stock is doing best of all -- up 5.8%.
Image source: Getty Images.
