The iShares U.S. Pharmaceuticals ETF is rallying along with Eli Lilly, its top holding.
The excitement around new drugs that can help people shed weight quickly has created a banner week for certain health care ETFs. The iShares U.S. Pharmaceuticals ETF is up 4.7% for the week. That would be its best stretch since the week ended June 24, 2022, when the fund gained 8.3%, according to FactSet. IHE 5D mountain The iShares fund focused on drugmakers is on track for its best week of the year.
The company's results were powered by strong demand for Mounjaro, the diabetes drug that also appears to help people lose weight. A trial from Danish company Novo Nordisk that showed its competitor drug Wegovy reduced the chances of cardiovascular events may also have improved the outlook for Mounjaro in the eyes of investors. If both drugs reduce the odds of heart attack and stroke, they may be more likely to be covered by government and private health insurance plans .
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