Why Eli Lilly (LLY) Stock Is Down This Afternoon

NEW YORK (TheStreet) -- Shares of Eli Lilly and Co. (LLY) are down -0.40% to $62.36 after Sanofi SA (SNY), whose top-selling Lantus helps diabetics control blood sugar levels, filed a lawsuit accusing Lilly of infringing seven patents related to insulin and devices used to deliver it, Reuters reports.

Through its complaint made public on Tuesday in the U.S. District Court in Wilmington, DE, Sanofi is seeking to halt Lilly's proposed commercial marketing in the U.S. of a rival treatment, known as Abasria, saying the sale would violate its rights, Reuters noted.

Shares of Sanfi are down -0.57% to $52.

Must Read: Warren Buffett's 25 Favorite Growth Stocks

TheStreet Ratings team rates LILLY (ELI) & CO as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:

"We rate LILLY (ELI) & CO (LLY) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels, solid stock price performance and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income."

Highlights from the analysis by TheStreet Ratings Team goes as follows:

If you liked this article you might like

Allergan's Restasis Patent Transfer to Face Precedent-Setting Legal Battle

Eli Lilly Still Looking for Lower Prices

Is Lilly Headed for the Valley?

Walmart, With Extra $10M Fund, Is Among 7 Giving for Hurricane Irma Relief