The book of Lilly according to Cramer
Diabetic Investor just loves it when people who know absolutely nothing about diabetes and the diabetes market speak as if they are authorities on the subject. As the old saying goes; “Better to be thought a fool, then open your mouth and remove all doubt.” Well when it comes to Lilly (NYSE:LLY) you can now add Jim Cramer to the list of fools and given his celebrity status we should appoint him the head fool.
Yesterday Mr. Cramer stated some reasons to own the stock, noting the company has “a strong pipeline of new drugs in development.” He also noted “79 million have diabetes, millions more expected to develop diabetes thanks to the obesity epidemic. Lilly might have an answer for it.” (The entire segment can be seen at http://video.cnbc.com/gallery/?video=3000090777&play=1.)
As Diabetic Investor has noted on several occasions when it comes to diabetes, once a core franchise for the company, Lilly can no longer be considered a serious player. Perhaps one day people like Cramer will realize that when it comes to diabetes it’s not about what a company did years ago but what they are doing today and most importantly where they will be in the future. The fact is when it comes to diabetes Lilly has a history, but not much of a future.
Now Diabetic Investor cannot and will not comment on the company’s other areas, as unlike Cramer, we prefer not to speak on things we know nothing about. But we do know diabetes and when it comes to diabetes Lilly is history.