Friday’s business headlines
INDIANAPOLIS (WISH) — Here’s a look at Friday’s business headlines with Jane King.
Report: Lilly’s obesity drug could soon lead the field
Eli Lilly will likely have a blockbuster drug on its hands with Mounjaro.
GlobalData says Mounjaro is set to be the dominant drug for weight loss and diabetes due to its success in clinical trials.
The recent rally in Eli Lilly’s stock has made it the most valuable pharmaceutical company in the world, surpassing Johnson & Johnson.
FDA recommends new Covid vaccines target XBB variant
FDA advisors recommend the new Covid vaccines target an Omicron XBB variant this fall, which is the dominant strain worldwide.
The panel’s recommendation is a win for vaccine manufacturers like Pfizer, Moderna, and Novavax, all of which have been developing versions of their respective shots targeting XBB coronavirus variants.
Amazon delivery drivers walk out in first-ever strike
Amazon delivery drivers and dispatchers walked out of their delivery facility on Thursday to demand that Amazon bargain with them.
The 84 drivers currently on strike have held picket lines before, but this is the first time Amazon drivers have walked out in the U.S.
The drivers want a higher wage, protections against the extreme heat of California summers, and the right to refuse unsafe deliveries.
Target stock falls to three year low
Target stock has dropped to a three year low as traffic at its stores remains below normal.
A Bank of America analyst lowered its price objective from $180 to $145 while saying the reduction is a response to weakened peer multiples, decelerating traffic, and modest mobile app engagement.
Since mid-May, when controversy over Pride merchandise hit Target’s market value, Target had lost over $15 billion at one point.