Eli Lilly and Company (LLY · NYSE)

Eli Lilly (LLY, ~$1.03T market cap) received full FDA approval on September 18 for Inluriyo (imlunestrant) combined with Verzenio for ER+, HER2-, ESR1-mutated advanced or metastatic breast cancer, while a Novartis cholesterol-trial failure has raised stakes for its own Lp(a)-targeting pipeline. The company beat estimates in all of its last four quarters, most recently reporting $8.38 versus $6.01 expected, and June-quarter revenue of $22.97B was up 47.7% year over year with a 54.2% operating margin and ROE of 102.3%. The stock closed at $1,152.93, down 7.4% over the past month but 8.4% above its 200-day average, trading at a P/E of 38.75 against an analyst target of $1,325.39. Leverage remains modest at 1.3x debt/EBITDA with $8.89B in cash and $7.76B in quarterly free cash flow.