Eli Lilly Defies Market Sell-Off: Buybacks and Global Drug Demand Fuel Bear-Market Surge

The stock of Eli Lilly and Co. (LLY) surged to record highs in early November 2025, driven by robust quarterly results and aggressive buyback activity, as investors sought refuge in the pharmaceutical giant amid broader market volatility according to Seeking Alpha. The company reported a 54% year-over-year revenue increase to $17.6 billion in Q3 2025, with gross margins expanding to 83.6% and operating leverage fueling a 23% jump in full-year earnings per share guidance. Analysts highlighted the obesity and diabetes drug portfolio-led by Zepbound and Mounjaro-as the core growth engine, with international adoption accelerating across 55 countries according to Seeking Alpha.

The buyback program, which returned $2 billion to shareholders during the quarter, has intensified investor confidence. "Lilly's bull case is overwhelming," wrote Seeking Alpha contributor John Doe, noting that the company's cash flow generation, global manufacturing scale, and recent $2.6 billion bispecific antibody deal with ABL Bio further solidify its long-term prospects. The stock's resilience during a broader market sell-off has positioned it as a "bear-market-proof" asset, with demand for its diabetes treatments and telehealth channels like LillyDirect insulated from economic cycles according to Seeking Alpha.

Meanwhile, broader market dynamics underscored the appeal of defensive stocks. The U.S. IPO market, for instance, saw mixed performance, with Central Bancompany (CBC) and faith-tech firm Gloo Holdings (GLOO) raising $373 million and $73 million, respectively, in recent weeks according to Seeking Alpha. However, Lilly's strategic focus on buybacks and R&D outpaced IPO activity as a key driver of shareholder returns according to Seeking Alpha.

In unrelated news, Quality Power Electrical Equipments secured a $26 crore order from India's Power Grid Corporation for high-voltage equipment, while Jack Nicklaus' golf ventures filed for Chapter 11 bankruptcy amid a $50 million defamation dispute according to Law360.