Eli Lilly and CompanyNYSE: LLY

With global obesity numbers bursting at the seams, some of the smartest biotech stocks to buy are those with weight loss drugs. Just look at Eli Lilly (NYSE: LLY ).

Weight loss drugs have taken the pharmaceutical and medical communities by storm. Not only are the companies behind the medications struggling to keep up with global demand, but reports are emerging that the drugs could alleviate health problems beyond obesity.

Eli Lilly's shares have soared more than 50% this year to about $900. This level may discourage some investors from hitting the buy button.

Louise Chen, Cantor Fitzgerald analyst, joins CNBC's 'Squawk Box' to discuss Eli Lilly's surge over the past year, manufacturing, and more.

In the most recent trading session, Eli Lilly (LLY) closed at $901.26, indicating a -0.37% shift from the previous trading day.

Drugmakers showed off data on weight loss and diabetes drugs. Also, Oracle announced the general availability of AI documentation assistant for doctors.

Eli Lilly is investing billions into additional capacity to ensure it's able to meet soaring demand for its products. Demand could accelerate even further if Mounjaro and Zepbound obtain approval for more indications.

Eli Lilly (LLY) said it is partnering with ChatGPT maker OpenAI to use artificial intelligence (AI) to develop new treatments to combat drug-resistant diseases.

Eli Lilly said on Tuesday it will collaborate with OpenAI to leverage its generative AI to develop antimicrobials that can be used to treat drug-resistant bacteria.