Eli Lilly appoints insider Lucas Montarce as finance chief amid rising investments to boost capacity

on Monday said it has appointed insider Lucas Montarce as its new chief financial officer, effective immediately, months after former CFO Anat Ashkenazi stepped down to join Google parent Alphabet.

Lilly and Danish rival Novo Nordisk are leaders in the burgeoning market for new weight loss drugs, which some analysts project could exceed $150-billion by the early 2030s. Under Ashkenazi’s leadership, Lilly’s stock grew nearly four-fold. “I do think that a lot of people were pretty surprised by the departure of the previous CFO,” said Dave Wagner, Portfolio Manager at Aptus Capital Advisors, which holds about 30,000 shares of Lilly, according to a regulatory filing.

“Lucas was very much groomed probably to be the next CFO,” Wagner said, pointing to Montarce’s experience being similar to Ashkenazi’s within the company.

Australia Australia Latest News, Australia Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Bronfman drops Paramount bid, Eli Lilly lowers weightloss drug price: Yahoo FinanceThe saga for Paramount Global (PARA) seems to be nearing an end. Edgar Bronfman Jr. has abandoned his bid for the studio, clearing the path for Skydance...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

What Eli Lilly, Novo Nordisk earnings reveal about the future of GLP-1 salesGLP-1s continue to fuel investor interest in market competition, as companies prepare to differentiate themselves in the coming year.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Tech market values fall on AI costs and recession fears; Eli Lilly, Berkshire gainLast month, Alphabet Inc's lost 4.7% of its market value as a slowdown in YouTube's advertising sales fuelled concerns about its earnings. Amazon.com Inc's ...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »