Why Eli Lilly Stock Sank 18% This Week

The drugmaker is in a 35% drawdown.Shares of Eli Lilly (LLY -2.37%) sank 18% this week, according to data from S&P Global Market Intelligence. The drugmaker with a market cap of over $500 billion is in a sharp drawdown due to previously high expectations and weak data on its obesity drug pipeline.Even though the stock is in a 35% dip from all-time highs, Eli Lilly is up 300% in the last five years on the back of its blockbuster weight loss drugs.Here's why Lilly stock dipped after posting its second-quarter ...