Ken Griffin’s hedge fund increased its LLY position nearly fourfold amid strong demand for obesity and diabetes drugs.
Citadel nearly quadrupled its stake in Eli Lilly (LLY) during Q2, adding 740,000 shares as the pharma giant reported $23.0 billion in revenue, up 48% year over year. Growth was driven by blockbuster drugs Mounjaro and Zepbound, which generated $9.9 billion and $4.9 billion in sales, respectively.
Eli Lilly’s obesity and diabetes franchise has expanded rapidly, with demand rising in the U.S. and internationally. The company’s pipeline includes late-stage candidates like retatrutide and orforglipron, targeting metabolic and cardiovascular diseases.
The move signals confidence in Lilly’s long-term growth prospects, positioning it as a key player in obesity and Alzheimer’s treatments.