Stock Market Update
26-Nov-24 11:40 ET
AMGN trades down after weight-loss drug update
Dow -154.14
at 44582.43,
Nasdaq +99.81
at 19154.65,
S&P +20.03
at 6007.40
[BRIEFING.COM] The Dow Jones Industrial Average continues to trail its peers, down 0.4% from yesterday.
Shares of Amgen (AMGN 261.95, -32.01, -10.9%) are the biggest drag on the DJIA, trading sharply lower after news its Phase 2 trial update for its weight-loss drug MariTide. Meanwhile, Eli Lilly (LLY 802.41, +47.41, +6.3%), a competitor in the weight-loss drug space, trades up nicely today.
Other headlines surrounding LLY include news that the White House has taken steps to lower prescription drug costs by proposing expanded coverage of anti-obesity medications for Americans with Medicare and Medicaid.
Another weight-loss drug manufacturer, Novartis (NVS 103.51, -0.02, -0.02%), has traded mostly flat today.
