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] are off about 6% over the past month – down much more than the overall healthcare sector. Why can’t Lilly get any love?One of the biggest issues facing Lilly and all of Big Pharma for that matter is patent expiration.
According to JP Morgan analyst Chris Schott, investors are focused on whether enough new Lilly drugs will be approved in the next few years to offset looming generic competition for Zyprexa, Cymbalta, osteoporosis drug Evista and cancer treatment Gemzar.
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"We continue to believe Lilly's pipeline remains too early-stage to convince us of its ability to meaningfully offset the loss of core franchises," Schott said.
And then there's the issue of M&A. As you may know billionaire investor Carl Icahn is agitating for Amylin [AMLN
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] to sell itself to Lilly. Of course Icahn would likely be looking for a premium.
So, what’s Lilly got going that might boost shares? For insights we turned to Eli Lilly CEO John Lechleiter.
Lechleiter tells Fast Money he’s excited about once-a-week Byetta, the firm's latest diabetes treatment. “Now our goal is to prosecute that and get it through for the patients,” he says.
And he’s well aware that Lilly must improve its pipeline. “We’ve got 60 molecules in some stage of development," he says. "It’s probably the most exciting pipeline in Lilly’s history. But the goal is to get (some drugs) across the finish line ahead of the patent expirations.
In terms of Amylin, Lechleither didn’t say much other than “we like the relationship we’ve got with Amylin.”
What do the Fast Money traders think of Lilly stock at current levels. Find out now! Watch the video above.
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Trader disclosure: On June 10th, 2009, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Macke Is Long (USO), (AGU), (SKF); Najarian Is Long (AAPL) Call Spread; Najarian is Long (FCX) Calls And Puts; Najarian Is Long (JPM), Short (JPM) Calls; Najarian Is Long (PALM) Call Spread; Finerman Is Long (NOK); Finerman Is Short (USO); Terranova Is Long (RIMM) And Short (RIMM) Sept. Calls; Terranova Is Long (MS) And Short (MS) July Calls; Terranova Is Short (XOM) Call Spread; Terranova Is Short (FCX) And Short (FCX) Puts
Terranova Works For (VRTS); Terranova Is Chief Alternatives Strategist Of Virtus Investment Partners, Ltd.; Terranova Is Co-Portfolio Manager Of The Virtus Diversifier PHOLIO; Virtus Diversifier PHOLIO Owns (IGE), (DBC), (DBV); Virtus Investment Partners Owns More Than 1% Of (ABD), (CAL), (CLB), (DLR), (EPR), (EXR), (IGE), (MEE), (DBC), (DBV), (DBA), (SKT), (UA), (WBMD); Virtus Investment Partners Owns More Than 1% Of St Mary Land & Exploration Co; Virtus Investment Partners Owns More Than 1% Of Seagate Tax Refund Rights
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