Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
- Shares of Eli Lilly and Co (NYSE: LLY) were trading down 1.4 percent on Friday.
- The decline appears to have been triggered by news about the Department of Justice conducting an inquiry of agreements with wholesalers.
- However, analysts are saying the news should have been priced into the shares several days ago.
Shares of Eli Lilly were falling on Friday morning, after news about the U.S. Department of Justice conducting an inquiry regarding the company's "treatment of certain distribution service agreements with wholesalers when calculating and reporting Average Manufacturer Prices in connection with the Medicaid drug rebate program."
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However, the news is not new. The investigation had been disclosed in a Form 10-Q filed with the U.S. Securities and Exchange Commission on October 30, 2015. Nonetheless, it seems like the news had gone unnoticed until Friday.
According to the filing, the company is voluntarily responding to the U.S. Attorney's office for the Eastern District of Pennsylvania and the Civil Division of the U.S. Department of Justice’s request.
"We are also a defendant in other litigation and investigations, including product liability, patent, employment, and premises liability litigation, of a character we regard as normal to our business," the Form 10-Q added.
Eli Lilly told Benzinga they are ware of the investigation and will be providing a statement on the situation shortly.
Disclosure: Javier Hasse holds no positions in any of the securities mentioned above.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.