(Updates price, adds stock symbol)
** Shares of Eli Lilly and Co up 6 pct at $89.74,giving the biggest boost to the S&P 500, following positive drugnews
** Its new Jardiance pill slashed deaths by 32 pct in astudy of 7,000 patients with type 2 diabetes at risk of heartattack and stroke
** Lilly's stock also is on track for its biggest percentagegain since June 9
** The stock is up 26 pct for the year so far, welloutperforming the broader market and the S&P health care sector, which is up just 4.5 pct for the year to date
** With a forward 12-month price-to-earnings ratio of 23.4,Lilly's stock is trading at a relatively high valuation comparedwith the rest of the S&P 500, which has a PE of about 16
** That's also higher than valuations of many of its peers,including Merck which has a forward PE of 14.1 andPfizer, which has a forward PE also of 14.1, ThomsonReuters data shows
** Among its rivals, shares of Merck are down 1.1 pct at$53.27 while U.S.-listed shares of Astrazeneca Plc are down 0.5 pct at $33.46
Astrazeneca (AZN)
