CNBC Investing Club

We think the selling in Eli Lilly may be overblown

An Eli Lilly and Company pharmaceutical manufacturing plant is pictured at 50 ImClone Drive in Branchburg, New Jersey, March 5, 2021.
Mike Segar | Reuters

(This article was sent first to members of the CNBC Investing Club with Jim Cramer. To get the real-time updates in your inbox, subscribe here.)

Shares of Eli Lilly (LLY) are taking a hit after the Centers for Medicare & Medicaid Services (CMS) published late Tuesday its proposed national coverage determination (NCD) for Biogen's Aduhelm, an FDA approved monoclonal antibodies (mAbs) directed against amyloid for the treatment of Alzheimer's disease. The CMS determined that Aduhelm will be limited to Medicare recipients who are willing to enroll in qualifying clinical trials.

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