Track market-moving stories before they get noisy

Aspen Pharmacare (APNJ.J) expects African sales ‌of Eli Lilly's (LLY.N) blockbuster weight-loss and diabetes drug Mounjaro to exceed 2 billion rand ($124 million) in its current financial year, buoyed by surging demand in South Africa and planned launches in ​Nigeria and Kenya.

The South African company is Lilly's official distributor of Mounjaro ​in sub-Saharan Africa.

A day after reporting annual results, Chief Executive Stephen Saad ⁠told investors on Thursday that Aspen had submitted Mounjaro for registration in Kenya ​and Nigeria, with both markets having the potential to contribute to earnings in its ​current financial year to end-June if approved.

"We're hoping to do more than 2 billion rand in sales in financial year 2027," Saad said about Mounjaro. He had previously forecast over 1.3 billion ​rand in sales for the year to end-June 2026, although the company has ​not disclosed its actual sales figure.

South Africa's GLP-1 market nearly doubled in value to 2.8 billion ‌rand ⁠over the year to June, driven largely by soaring demand for Mounjaro. The drug, launched late in 2024, increased its share of the market to a dominant 53% from 15% a year earlier, Saad said.

BEYOND MOUNJARO
Africa's biggest pharmaceuticals company is also ​advancing plans to launch ​a generic version ⁠of Novo Nordisk's (NOVOb.CO) Ozempic in selected markets once patents expire, having secured two registrations in Canada and filed applications across ​several emerging markets.

The timing of Aspen's commercial launch in Canada ​remains dependent ⁠on the availability of the active pharmaceutical ingredient (API) from India's Dr. Reddy's Laboratories (REDY.NS), which halted production of new batches in July because of an impurity issue.

Saad said Aspen expected greater ⁠clarity ​on the supply arrangement before the end of the ​month.

A different API supplier will be used in Brazil, which is among the markets where registration progress ​is being made, Saad said.

($1 = 16.0681 rand)

First-of-its-kind study shows sustained Zepbound use in older adults with obesity lowers costs, reinforcing the potential value of the Medicare GLP-1 Bridge program

Individuals treated with Zepbound had lower rates of hospital admissions and emergency department visits

, /PRNewswire/ -- Eli Lilly and Company (NYSE: LLY) today announced results from a real-world study of adults over 55 with overweight or obesity, which found that staying on Zepbound (tirzepatide) for weight management lowered healthcare costs over time relative to similar untreated adults, driven in part by fewer hospital admissions and emergency department visits. For adults over the age of 55, including patients in Medicare's GLP-1 Bridge program, these lower costs translate into meaningful savings as early as 12 months into treatment. This is the first study of its kind in this age group, and the results were published in Diabetes, Obesity and Metabolism.

Key findings1
The study estimated cost differences over time, excluding Zepbound costs,2 using two established methods. Both approaches yielded, on average, lower monthly healthcare costs with sustained Zepbound use versus those who are untreated.

At six months, costs were up to 15% lower (up to $181 per patient, per month). The difference widened by 12 months, with an estimated difference of up to $607 per patient, per month, reflecting on average up to 38% lower costs than those not treated.3    In the primary analysis, adults older than 55 treated with Zepbound had lower rates of hospital admissions and emergency department visits across every follow-up period, and numerically higher rates of routine outpatient and office visits, consistent with greater engagement in routine care.4 Beginning at six months, estimated healthcare cost savings nearly covered the Medicare GLP-1 Bridge program's monthly treatment cost of $195 per patient, per month. Starting at 12 months, estimated healthcare cost savings exceeded the cost of Zepbound treatment, suggesting that sustained treatment in an aging population may lead to meaningful cost savings.1 "This compelling real-world evidence highlights the impact that treating obesity with Zepbound can have on older patients and the healthcare system," said Ilya Yuffa, executive vice president and president, Lilly USA and Global Customer Capabilities. "This analysis shows treatment costs can be lowered, and in some cases more than covered, by savings elsewhere in care – including for payers and in Medicare. As coverage expands across Medicare, states and employers, these data offer evidence on the cost implications of long-term obesity treatment and should help shape decisions."

About this study

Who was included in the study? 
This retrospective observational cohort study utilized the Komodo's Healthcare Map, which includes de-identified claims data from over 330 million individuals enrolled in U.S. healthcare plans. The analysis included 15,843 adults aged above 55 (mean age 64.5 years) with obesity (BMI ≥30 kg/m²) or overweight (BMI ≥27 kg/m²) with at least one obesity-related complication, who initiated Zepbound between November 2023 and September 2025. Each Zepbound user was matched 1:1 with a control who met the same eligibility criteria but did not initiate any GLP-1 or GIP/GLP-1 receptor agonist medication. People were matched based on their baseline demographics, clinical characteristics, obesity-related complications and healthcare utilization patterns. All participants had at least 12 months of continuous enrollment prior to beginning the study.

How was the study analyzed?
To account for the fact that not all patients remained in the study for the same length of time, researchers used two complementary analytic methods: one that directly compared costs between the matched pairs (pairwise analysis, the secondary analysis), and another that statistically reweighted the results so that patients who left the study early were still fairly represented, correcting for any differences between those who stayed on Zepbound and those who didn't (Inverse Probability of Censoring Weighting analysis, the primary analysis). Both approaches showed consistent results.

What were the results of the study?
Two analytic methods found lower monthly healthcare costs with sustained Zepbound use versus no treatment. At six months, the pairwise analysis showed a 15% lower increase in costs, a difference of $181 per patient, per month; the IPCW analysis showed a 12% lower increase, a difference of $145 per patient, per month. At 12 months, the pairwise analysis showed an estimated difference of $607 per patient, per month, reflecting on average 38% lower costs; the IPCW analysis showed an estimated difference of $319 per patient, per month, reflecting on average 25% lower costs. 

How should the healthcare cost findings be interpreted?2
Claims data do not capture Zepbound's net price, so the study excluded the cost of Zepbound from total treatment costs. As a result, the reported cost differences reflect potential savings that could offset the price of Zepbound (not the net cost impact of treatment overall).

About Zepbound (tirzepatide) injection
Zepbound (tirzepatide) is the first and only dual GIP (glucose-dependent insulinotropic polypeptide) and GLP-1 (glucagon-like peptide-1) receptor agonist obesity medication. Zepbound tackles an underlying cause of excess weight. It reduces appetite and how much you eat. Zepbound is indicated for adults with obesity, or some adults who are overweight and also have at least one weight-related medical problem, to lose weight and keep it off. Additionally, Zepbound is FDA-approved to treat adults with moderate-to-severe obstructive sleep apnea and obesity. Zepbound should be used with a reduced calorie diet and increased physical activity. 

Endnotes and references

Upadhyay N, Bonakdar A, Subedi K, Banerjee S, Behrend B, Hankosky ER. Trends in Cost of Care With Tirzepatide in Adults Aged Over 55 Years With Overweight or Obesity Without Diabetes: A Matched Cohort Analysis. Claims data do not capture Zepbound's net price, so the study excluded the cost of Zepbound from total treatment costs. As a result, the reported cost differences reflect potential savings that could offset the price of Zepbound (not the net cost impact of treatment overall). Estimated cost differences varied between $319 and $607, depending on model. Results were numerically lower, but not statistically significant in the secondary analysis (pairwise). INDICATIONS AND SAFETY SUMMARY WITH WARNINGS
Zepbound® (ZEHP-bownd) is an injectable prescription medicine used with a reduced-calorie diet and increased physical activity to help adults with:

obesity, or some adults with overweight who also have weight-related medical problems, to lose excess body weight and keep the weight off. moderate-to-severe obstructive sleep apnea (OSA) and obesity to improve their OSA. Zepbound contains tirzepatide and should not be used with other tirzepatide-containing products or any GLP-1 receptor agonist medicines. It is not known if Zepbound is safe and effective for use in children.

Warnings - Zepbound may cause tumors in the thyroid, including thyroid cancer. Watch for possible symptoms, such as a lump or swelling in the neck, hoarseness, trouble swallowing, or shortness of breath. If you have any of these symptoms, tell your healthcare provider.

Do not use Zepbound if you or any of your family have ever had a type of thyroid cancer called medullary thyroid carcinoma (MTC). Do not use Zepbound if you have Multiple Endocrine Neoplasia syndrome type 2 (MEN 2). Do not use Zepbound if you have had a serious allergic reaction to tirzepatide or any of the ingredients in Zepbound. KwikPen®: Do not share your KwikPen with other people, even if the pen needle has been changed. You may give other people a serious infection or get a serious infection from them.

Zepbound may cause serious side effects, including:

Severe stomach problems. Stomach problems, sometimes severe, have been reported in people who use Zepbound. Tell your healthcare provider if you have stomach problems that are severe or will not go away.

Dehydration leading to kidney problems. Diarrhea, nausea, and vomiting may cause a loss of fluids (dehydration), which may cause kidney problems. It is important for you to drink fluids to help reduce your chance of dehydration. Tell your healthcare provider right away if you have nausea, vomiting, or diarrhea that does not go away.

Gallbladder problems. Gallbladder problems have happened in some people who use Zepbound. Tell your healthcare provider right away if you get symptoms of gallbladder problems, which may include pain in your upper stomach (abdomen), fever, yellowing of skin or eyes (jaundice), or clay-colored stools.

Inflammation of the pancreas (pancreatitis). Stop using Zepbound and call your healthcare provider right away if you have severe pain in your stomach area (abdomen) that will not go away, with or without nausea or vomiting. You may feel the pain from your abdomen to your back.

Serious allergic reactions. Stop using Zepbound and get medical help right away if you have any symptoms of a serious allergic reaction, including swelling of your face, lips, tongue or throat, problems breathing or swallowing, severe rash or itching, fainting or feeling dizzy, or very rapid heartbeat.

Low blood sugar (hypoglycemia). Your risk for getting low blood sugar may be higher if you use Zepbound with medicines that can cause low blood sugar, such as a sulfonylurea or insulin. Signs and symptoms of low blood sugar may include dizziness or light-headedness, sweating, confusion or drowsiness, headache, blurred vision, slurred speech, shakiness, fast heartbeat, anxiety, irritability, mood changes, hunger, weakness or feeling jittery.

Changes in vision in patients with type 2 diabetes. Tell your healthcare provider if you have changes in vision during treatment with Zepbound.

Food or liquid getting into the lungs during surgery or other procedures that use anesthesia or deep sleepiness (deep sedation). Zepbound may increase the chance of food getting into your lungs during surgery or other procedures. Tell all your healthcare providers that you are taking Zepbound before you are scheduled to have surgery or other procedures.

Common side effects
The most common side effects of Zepbound include nausea, diarrhea, vomiting, constipation, stomach (abdominal) pain, indigestion, injection site reactions, feeling tired, allergic reactions, belching, hair loss, and heartburn. These are not all the possible side effects of Zepbound. Talk to your healthcare provider about any side effect that bothers you or doesn't go away.

Tell your doctor if you have any side effects. You can report side effects at 1-800-FDA-1088 or www.fda.gov/medwatch.

Before using Zepbound

Your healthcare provider should show you how to use Zepbound before you use it for the first time. Talk to your healthcare provider about low blood sugar and how to manage it. Tell your healthcare provider if you are taking medicines to treat diabetes including an insulin or sulfonylurea. If you take birth control pills by mouth, talk to your healthcare provider before you use Zepbound. Birth control pills may not work as well while using Zepbound. Your healthcare provider may recommend another type of birth control for 4 weeks after you start Zepbound and for 4 weeks after each increase in your dose of Zepbound. Review these questions with your healthcare provider: 
❑ Do you have other medical conditions, including problems with your pancreas, or severe problems with your stomach, such as slowed emptying of your stomach (gastroparesis) or problems digesting food?
❑ Do you take diabetes medicines, such as insulin or sulfonylureas?
❑ Do you have a history of diabetic retinopathy?
❑ Are you scheduled to have surgery or other procedures that use anesthesia or deep sleepiness (deep sedation)?
❑ Do you take any other prescription medicines or over-the-counter drugs, vitamins, or herbal supplements?
❑ Are you pregnant, plan to become pregnant, breastfeeding, or plan to breastfeed? Zepbound may harm your unborn baby. Tell your healthcare provider if you become pregnant while using Zepbound. Zepbound may pass into your breast milk. You should talk with your healthcare provider about the best way to feed your baby while using Zepbound.

• Pregnancy Exposure Registry: There will be a pregnancy exposure registry for women who have taken Zepbound during pregnancy. The purpose of this registry is to collect information about the health of you and your baby. Talk to your healthcare provider about how you can take part in this registry, or you may contact Lilly at 1-800-LillyRx (1-800-545-5979).

How to take

Read the Instructions for Use that come with Zepbound. Use Zepbound exactly as your healthcare provider says. Use Zepbound with a reduced-calorie diet and increased physical activity. Inject Zepbound under the skin (subcutaneously) of your stomach (abdomen), thigh, or have another person inject in the back of the upper arm. Do not inject ZEPBOUND into a muscle (intramuscularly) or vein (intravenously). Use Zepbound 1 time each week, at any time of the day. Change (rotate) your injection site with each weekly injection. Do not use the same site for each injection. If you take too much Zepbound, call your healthcare provider, call the Poison Help line at 1-800-222-1222 or go to the nearest hospital emergency room right away.

Zepbound is approved as a 2.5 mg, 5 mg, 7.5 mg, 10 mg, 12.5 mg, and 15 mg injection.

Learn more
Zepbound is a prescription medicine. For more information, call 1-800-LillyRx (1-800-545-5979) or go to www.zepbound.lilly.com.

This summary provides basic information about Zepbound but does not include all information known about this medicine. Read the information that comes with your prescription each time your prescription is filled. This information does not take the place of talking with your healthcare provider. Be sure to talk to your healthcare provider about Zepbound and how to take it. Your healthcare provider is the best person to help you decide if Zepbound is right for you.

ZP CON BS 25FEB2026

About Lilly
Lilly is a medicine company turning science into healing to make life better for people around the world. We've been pioneering life-changing discoveries for 150 years, and today our medicines help tens of millions of people across the globe. Harnessing the power of biotechnology, chemistry and genetic medicine, our scientists are urgently advancing new discoveries to solve some of the world's most significant health challenges: redefining diabetes care; treating obesity and curtailing its most devastating long-term effects; advancing the fight against Alzheimer's disease; providing solutions to some of the most debilitating immune system disorders; and transforming the most difficult-to-treat cancers into manageable diseases. With each step toward a healthier world, we're motivated by one thing: making life better for millions more people. That includes delivering innovative clinical trials that reflect the diversity of our world and working to ensure our medicines are accessible and affordable. To learn more, visit Lilly.com and Lilly.com/news, or follow us on Facebook, Instagram, and LinkedIn. P-LLY

Trademarks and Trade Names
All trademarks or trade names referred to in this press release are the property of the company, or, to the extent trademarks or trade names belonging to other companies are referenced in this press release, the property of their respective owners. Solely for convenience, the trademarks and trade names in this press release are referred to without the ® and ™ symbols, but such references should not be construed as any indicator that the company or, to the extent applicable, their respective owners will not assert, to the fullest extent under applicable law, the company's or their rights thereto. We do not intend the use or display of other companies' trademarks and trade names to imply a relationship with, or endorsement or sponsorship of us by, any other companies.

Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements (as that term is defined in the Private Securities Litigation Reform Act of 1995), including statements about the supply and access of Zepbound (tirzepatide) as a treatment for adults with obesity or overweight and reflects Lilly's current belief and expectations. However, as with any pharmaceutical product, there are substantial risks and uncertainties in the process of drug research, development, access, and commercialization. Among other things, there can be no guarantee that future study results will be consistent with the results to date, that Zepbound will receive additional regulatory approvals, or that Lilly will execute its access and other strategies as planned. For further discussion of these and other risks and uncertainties, see Lilly's most recent Form 10-K and Form 10-Q filings with the United States Securities and Exchange Commission. Except as required by law, Lilly undertakes no duty to update forward-looking statements to reflect events after the date of this release.

©Lilly USA, LLC 2026. All rights reserved.

SOURCE Eli Lilly and Company

Mounjaro is the first and only GIP and GLP-1 receptor agonist proven to lower heart attack, stroke or cardiovascular death risk in adults with type 2 diabetes at high risk for these events – in addition to its established A1C and weight loss benefits

It is estimated that as many as one in three adults in the U.S. with type 2 diabetes have undetected cardiovascular disease1

, /PRNewswire/ -- Eli Lilly and Company (NYSE: LLY) today announced that the U.S. Food and Drug Administration (FDA) approved Mounjaro (tirzepatide), a dual GIP and GLP-1 hormone receptor agonist, to lower the risk of major adverse cardiovascular (CV) events (MACE), including CV death, non-fatal heart attack, or non-fatal stroke in adults with type 2 diabetes who are at high risk for these events. Mounjaro is already approved as an adjunct to diet and exercise to improve blood sugar in adults and children 10 years of age and older with type 2 diabetes.

"For people with type 2 diabetes, heart disease is the leading cause of death, and Mounjaro – the #1 most prescribed branded type 2 diabetes medicine for adults in the U.S. – now gives them a proven way to lower that risk, adding to the strong foundation it has already built in A1C and weight," said Kenneth Custer, Ph.D., executive vice president and president, Lilly Cardiometabolic Health. "We set a higher bar by testing Mounjaro against a GLP-1 medicine with proven cardiovascular benefit, one that reflects the depth of evidence Lilly continues to build in this field."

The approval was based on results from SURPASS-CVOT, the first cardiovascular outcomes trial comparing two incretin medicines head-to-head rather than against a placebo, and the largest and longest tirzepatide study to date, enrolling more than 13,000 participants across 30 countries over more than four and a half years. In the trial, Mounjaro demonstrated non-inferiority to Trulicity (dulaglutide), a GLP-1 treatment with established cardiovascular benefit, with an 8% lower rate of cardiovascular death, heart attack or stroke (MACE-3). The estimated hazard ratio for time to first MACE was 0.92 (95.3% CI: 0.83, 1.01) for Mounjaro compared to Trulicity (dulaglutide).

"Heart health deserves attention throughout the course of treatment, not just after a serious cardiovascular event," said David A. D'Alessio, M.D., study co-author and director of the Division of Endocrinology and Metabolism at Duke University School of Medicine. "While a large portion of type 2 diabetes care is focused on glucose control, mitigating cardiovascular risk is essential and can be overlooked. This approval gives patients a medicine that reduces the risk of cardiovascular events and supports metabolic health at the same time." 

The safety and tolerability of Mounjaro were generally consistent with its established profile. The most commonly reported adverse events in SURPASS-CVOT for Mounjaro were gastrointestinal-related, generally mild-to-moderate in severity, and occurred primarily during the dose-escalation period. Please see Indications and Safety Summary with Warnings below and full Prescribing Information and Medication Guide.

For more information about Mounjaro, please visit www.Mounjaro.lilly.com.

About Mounjaro (tirzepatide)
Mounjaro (tirzepatide), the #1 prescribed branded type 2 diabetes medicine for adults in the U.S., is an injectable medicine for adults and children 10 years of age and older with type 2 diabetes used along with diet and exercise to improve blood sugar (glucose). In adults with type 2 diabetes who are at high risk for cardiovascular events, Mounjaro is also indicated to lower the risk of major adverse cardiovascular (CV) events (MACE), including CV death, non-fatal heart attack, or non-fatal stroke. As the first and only FDA-approved GIP and GLP-1 receptor agonist, Mounjaro is a single molecule that activates the body's receptors for GIP (glucose-dependent insulinotropic polypeptide) and GLP-1 (glucagon-like peptide-1).

About Trulicity (dulaglutide)
Trulicity is a once-weekly injectable medicine for adults and children 10 years of age and older with type 2 diabetes that is used with diet and exercise to improve blood sugar (glucose). Trulicity is also used in adults with type 2 diabetes to reduce the risk of major cardiovascular events such as death, heart attack, or stroke, in people with established cardiovascular disease or multiple cardiovascular risk factors.

About SURPASS-CVOT
SURPASS-CVOT (Cardiovascular Outcomes Trial; NCT04255433) was an event-driven, randomized, double-blind, parallel group Phase 3 trial evaluating the efficacy and safety of Mounjaro (tirzepatide) compared with Trulicity (dulaglutide) in adults with type 2 diabetes and established atherosclerotic cardiovascular disease (ASCVD), which lasted approximately five years (with a median follow-up of four years). In the trial, 13,299 participants were randomized 1:1 across 640 sites in 30 countries to receive Mounjaro (15 mg or the maximum tolerated dose) or Trulicity (1.5 mg) administered subcutaneously once weekly. The primary objective of the trial was to demonstrate that Mounjaro provided a non-inferior reduction in the risk of major adverse cardiovascular events (MACE-3) — a composite of cardiovascular death, heart attack or stroke — compared to Trulicity. Over a median follow-up of 210.1 weeks, Mounjaro was non-inferior to dulaglutide for reducing the occurrence of MACE-3. Superiority to dulaglutide was not established. Full results from SURPASS-CVOT were published in The New England Journal of Medicine (NEJM). Data from the trial has been included in Mounjaro's product information in the European Union, and regulatory submissions based on the trial are under review in additional markets.

INDICATIONS AND SAFETY SUMMARY WITH WARNINGS 

Mounjaro® (mown-JAHR-OH) is an injectable prescription medicine used along with diet and exercise to improve blood sugar (glucose) in adults and children 10 years of age and older with type 2 diabetes and to reduce the risk of major cardiovascular events such as heart attack, stroke, or death in adults with type 2 diabetes who are at high risk for these events.

It is not known if Mounjaro is safe and effective for use in children under 10 years of age.  Warnings - Mounjaro may cause tumors in the thyroid, including thyroid cancer. Watch for possible symptoms, such as a lump or swelling in the neck, hoarseness, trouble swallowing, or shortness of breath. If you have any of these symptoms, tell your healthcare provider.

Do not use Mounjaro if you or any of your family have ever had a type of thyroid cancer called medullary thyroid carcinoma (MTC). Do not use Mounjaro if you have Multiple Endocrine Neoplasia syndrome type 2 (MEN 2). Do not use Mounjaro if you are allergic to it or any of the ingredients in Mounjaro. Mounjaro may cause serious side effects, including: 

Inflammation of the pancreas (pancreatitis). Stop using Mounjaro and call your healthcare provider right away if you have severe pain in your stomach area (abdomen) that will not go away, with or without nausea or vomiting. Sometimes you may feel the pain from your abdomen to your back. 

Low blood sugar (hypoglycemia). Your risk for getting low blood sugar may be higher if you use Mounjaro with another medicine that can cause low blood sugar, such as a sulfonylurea or insulin. Signs and symptoms of low blood sugar may include dizziness or light-headedness, sweating, confusion or drowsiness, headache, blurred vision, slurred speech, shakiness, fast heartbeat, anxiety, irritability, or mood changes, hunger, weakness and feeling jittery.

Serious allergic reactions. Stop using Mounjaro and get medical help right away if you have any symptoms of a serious allergic reaction, including swelling of your face, lips, tongue or throat, problems breathing or swallowing, severe rash or itching, fainting or feeling dizzy, and very rapid heartbeat. 

Dehydration leading to kidney problems. Diarrhea, nausea, and vomiting may cause a loss of fluids (dehydration), which may cause kidney problems. It is important for you to drink fluids to help reduce your chance of dehydration. Tell your healthcare provider right away if you have nausea, vomiting, or diarrhea that does not go away.

Severe stomach problems. Stomach problems, sometimes severe, have been reported in people who use Mounjaro. Tell your healthcare provider if you have stomach problems that are severe or will not go away. 

Changes in vision. Tell your healthcare provider if you have changes in vision during treatment with Mounjaro.

Gallbladder problems. Gallbladder problems have happened in some people who use Mounjaro. Tell your healthcare provider right away if you get symptoms of gallbladder problems, which may include pain in your upper stomach (abdomen), fever, yellowing of skin or eyes (jaundice), and clay-colored stools.

Food or liquid getting into the lungs during surgery or other procedures that use anesthesia or deep sleepiness (deep sedation). Mounjaro may increase the chance of food getting into your lungs during surgery or other procedures. Tell all your healthcare providers that you are taking Mounjaro before you are scheduled to have surgery or other procedures.

Common side effects
The most common side effects of Mounjaro include nausea, diarrhea, decreased appetite, vomiting, constipation, indigestion, and stomach (abdominal) pain. These are not all the possible side effects of Mounjaro. Talk to your healthcare provider about any side effect that bothers you or doesn't go away. 

Tell your healthcare provider if you have any side effects. You can report side effects at 1-800-FDA-1088 or www.fda.gov/medwatch.

Before using Mounjaro 

Your healthcare provider should show you how to use Mounjaro before you use it for the first time. Talk to your healthcare provider about low blood sugar and how to manage it. If you take birth control pills by mouth, talk to your healthcare provider before you use Mounjaro. Birth control pills may not work as well while using Mounjaro. Your healthcare provider may recommend another type of birth control for 4 weeks after you start Mounjaro and for 4 weeks after each increase in your dose of Mounjaro. Review these questions with your healthcare provider:
❑ Do you have other medical conditions, including problems with your pancreas, or severe problems with your stomach, such as slowed emptying of your stomach (gastroparesis) or problems digesting food?
❑ Do you take other diabetes medicines, such as insulin or sulfonylureas?
❑ Do you have a history of diabetic retinopathy?
❑ Are you scheduled to have surgery or other procedures that use anesthesia or deep sleepiness (deep sedation)?
❑ Are you pregnant, plan to become pregnant, breastfeeding, or plan to breastfeed? It is not known if Mounjaro will harm your unborn baby. Mounjaro may pass into your breast milk.
❑ Do you take any other prescription medicines or over-the-counter drugs, vitamins, or herbal supplements?

How to take 

Read the Instructions for Use that come with Mounjaro. Use Mounjaro exactly as your healthcare provider says. A caregiver may give you Mounjaro injections, or you may self-inject if a healthcare provider determines that it is appropriate. Inject Mounjaro under the skin (subcutaneously) of your stomach (abdomen), thigh, or another person should inject in the back of the upper arm. Do not inject Mounjaro into a muscle (intramuscularly) or vein (intravenously). Use Mounjaro 1 time each week, at any time of the day.   Do not mix insulin and Mounjaro together in the same injection. You may give an injection of Mounjaro and insulin in the same body area (such as your stomach area), but not right next to each other. Change (rotate) your injection site with each weekly injection. Do not use the same site for each injection. If you take too much Mounjaro, call your healthcare provider or Poison Help line at 1-800-222-1222 or go to the nearest hospital emergency room right away. Learn more
Mounjaro is a prescription medicine available as a pre-filled single-dose pen in 2.5 mg, 5 mg, 7.5 mg, 10 mg, 12.5 mg, or 15 mg per 0.5 mL injection. For more information, call 1-800-LillyRX (800-545-5979) or go to www.mounjaro.lilly.com. 

This summary provides basic information about Mounjaro but does not include all information known about this medicine. Read the information that comes with your prescription each time your prescription is filled. This information does not take the place of talking with your healthcare provider. Be sure to talk to your healthcare provider about Mounjaro and how to take it. Your healthcare provider is the best person to help you decide if Mounjaro is right for you.

TR CON BS AUG2026 

Mounjaro® and its delivery device base are registered trademarks owned or licensed by Eli Lilly and Company, its subsidiaries, or affiliates.

INDICATION[S] AND SAFETY SUMMARY WITH WARNINGS  

Trulicity® (Trū-li-si-tee) is for adults and children 10 years of age and older with type 2 diabetes used along with diet and exercise to improve blood sugar (glucose). Trulicity is also used in adults with type 2 diabetes to reduce the risk of major cardiovascular events (problems having to do with the heart and blood vessels) such as death, heart attack, or stroke in people who have heart disease or multiple cardiovascular risk factors.

It is not known if Trulicity is safe and effective to lower blood sugar (glucose) in children under 10 years of age. Trulicity is given through an injection (needle). You take it once a week by injecting it under the skin of your stomach, thigh, or upper arm. Warnings: Trulicity may cause tumors in the thyroid, including thyroid cancer. Watch for possible symptoms, such as a lump or swelling in the neck, trouble swallowing, hoarseness, or shortness of breath. If you have any of these symptoms, tell your healthcare provider.

Do not use Trulicity if you or any of your family have ever had a type of thyroid cancer called medullary thyroid carcinoma (MTC). Do not use Trulicity if you have Multiple Endocrine Neoplasia syndrome type 2 (MEN 2). Do not use Trulicity if you are allergic to dulaglutide or other ingredients in Trulicity. Ask your healthcare provider how to recognize the serious side effects below and what to do if you think you have one: 

Inflammation of the pancreas (pancreatitis). Stop using Trulicity and call your healthcare provider right away if you have severe pain in your stomach area (abdomen) that will not go away, with or without nausea or vomiting. Sometimes, you may feel the pain from your abdomen to your back.

Low blood sugar (hypoglycemia). Your risk for getting low blood sugar may be higher if you use TRULICITY with another medicine that can cause low blood sugar, such as a sulfonylurea or insulin.

Signs and symptoms of low blood sugar may include dizziness or light-headedness, confusion or drowsiness, headache, blurred vision, slurred speech, fast heartbeat, sweating, hunger, shakiness, feeling jittery, weakness, anxiety, irritability, or mood changes.

Serious allergic reactions. Stop using Trulicity and get medical help right away if you have any symptoms of a serious allergic reaction which may include swelling of your face, lips, tongue or throat, problems breathing or swallowing, severe rash or itching, fainting, or feeling dizzy, or very rapid heartbeat.

Dehydration leading to kidney problems. Diarrhea, nausea, and vomiting may cause a loss of fluids (dehydration) which may cause kidney problems. It is important for you to drink fluids to help reduce your chance of dehydration. Tell your healthcare provider right away if you have nausea, vomiting, or diarrhea that does not go away.

Severe stomach problems. Stomach problems, sometimes severe, have been reported in people who use Trulicity. Tell your healthcare provider if you have stomach problems that are severe or will not go away.

Changes in vision. Tell your healthcare provider if you have changes in your eyesight (vision) during treatment with Trulicity.

Gallbladder problems. Gallbladder problems have happened in some people who take Trulicity. Tell your healthcare provider right away if you get symptoms of gallbladder problems, which may include pain in your upper stomach (abdomen), fever, yellowing of skin or eyes (jaundice), clay-colored stools.

Food or liquid getting into the lungs during surgery or other procedures that use anesthesia or deep sleepiness (deep sedation). Trulicity may increase the chance of food getting into your lungs during surgery or other procedures. Tell all your healthcare providers that you are taking Trulicity before you are scheduled to have surgery or other procedures.

Common side effects
The most common side effects of Trulicity include nausea, diarrhea, vomiting, abdominal pain and decreased appetite, indigestion, and fatigue.

These are not all the possible side effects of Trulicity.

Tell your healthcare provider if you have any side effects. You can report side effects at 1-800-FDA-1088 or www.fda.gov/medwatch. 

Before using 

Your healthcare provider should show you how to use Trulicity before you use it for the first time. Before you use Trulicity, talk to your healthcare provider about low blood sugar and how to manage it.  Review these questions with your healthcare provider:
❑ Do you have other medical conditions, including problems with your pancreas, kidneys, liver, or stomach, or have a history of diabetic retinopathy (vision problems related to diabetes)?
❑ Do you take other diabetes medicines, such as insulin or sulfonylureas?
❑ Are you scheduled to have surgery or other procedures that use anesthesia or deep sleepiness (deep sedation)?
❑ Are you pregnant or plan to become pregnant or breastfeeding or plan to breastfeed?
❑ Do you take any other prescription medicines or over-the-counter drugs, vitamins, or herbal supplements?

How to take 

Read the Instructions for Use that come with Trulicity. Use Trulicity exactly as your healthcare provider says. Inject Trulicity under the skin (subcutaneously) of your stomach (abdomen), thigh, or upper arm. Do not inject Trulicity into a muscle (intramuscularly) or vein (intravenously). Do not share your Trulicity pen, syringe, or needles with another person. Do not give Trulicity to other people. If you take too much Trulicity, call your healthcare provider or Poison Helpline at 1-800-222-1222 or go to the nearest hospital emergency room right away. Learn more
Trulicity is a prescription medicine available as a pre-filled single-dose pen in 0.75 mg,1.5 mg, 3 mg, or 4.5 mg per 0.5 mL injection. For more information, call 1-800-LillyRx (1-800-545-5979) or go to www.trulicity.lilly.com. 

This summary provides basic information about Trulicity but does not include all information known about this medicine. Read the information that comes with your prescription each time your prescription is filled. This information does not take the place of talking with your healthcare provider. Be sure to talk to your healthcare provider about Trulicity and how to take it. Your healthcare provider is the best person to help you decide if Trulicity is right for you.

DG CON HL BS 25MAR2026 

Trulicity® and its delivery device base are registered trademarks owned or licensed by Eli Lilly and Company, its subsidiaries, or affiliates.

Endnotes

Fang M, Wang D, Tang O, et al. Subclinical cardiovascular disease in US adults with and without diabetes. J Am Heart Assoc. 2023;12(11): e029083. doi:10.1161/JAHA.122.029083. About Lilly
Lilly is a medicine company turning science into healing to make life better for people around the world. We've been pioneering life-changing discoveries for 150 years, and today our medicines help tens of millions of people across the globe. Harnessing the power of biotechnology, chemistry and genetic medicine, our scientists are urgently advancing new discoveries to solve some of the world's most significant health challenges: redefining diabetes care; treating obesity and curtailing its most devastating long-term effects; advancing the fight against Alzheimer's disease; providing solutions to some of the most debilitating immune system disorders; and transforming the most difficult-to-treat cancers into manageable diseases. With each step toward a healthier world, we're motivated by one thing: making life better for millions more people. That includes delivering innovative clinical trials that reflect the diversity of our world and working to ensure our medicines are accessible and affordable. To learn more, visit Lilly.com and Lilly.com/news, or follow us on Facebook, Instagram, and LinkedIn. P-LLY

Trademarks and Trade Names
All trademarks or trade names referred to in this press release are the property of the company, or, to the extent trademarks or trade names belonging to other companies are referenced in this press release, the property of their respective owners. Solely for convenience, the trademarks and trade names in this press release are referred to without the ® and ™ symbols, but such references should not be construed as any indicator that the company or, to the extent applicable, their respective owners will not assert, to the fullest extent under applicable law, the company's or their rights thereto. We do not intend the use or display of other companies' trademarks and trade names to imply a relationship with, or endorsement or sponsorship of us by, any other companies. 

Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements (as that term is defined in the Private Securities Litigation Reform Act of 1995) about Mounjaro as a treatment for adults with type 2 diabetes and who are at high risk for cardiovascular events and reflects Lilly's current beliefs and expectations. However, as with any pharmaceutical product, there are substantial risks and uncertainties in the process of drug research, development, and commercialization. Among other things, there is no guarantee that future study results will be consistent with study results to date, that Mounjaro will receive additional regulatory approvals, or that Lilly will execute its strategy as planned. For further discussion of these and other risks and uncertainties that could cause actual results to differ from Lilly's expectations, see Lilly's Form 10-K and Form 10-Q filings with the United States Securities and Exchange Commission. Except as required by law, Lilly undertakes no duty to update forward-looking statements to reflect events after the date of this release.

CMAT-35000 8/2026 ©Lilly USA, LLC 2026. All rights reserved.

SOURCE Eli Lilly and Company

 At Week 52, Taltz and Zepbound maintained or further improved psoriasis or psoriatic arthritis disease activity from Week 36, when statistically superior improvements versus Taltz alone were observed in the TOGETHER-PsO and TOGETHER-PsA trials

Systemic inflammation and metabolic outcomes continued to improve or were sustained at one year with Taltz and Zepbound compared to Taltz alone in pre-specified, exploratory endpoints

Data from first-of-their-kind studies contribute to the understanding of immunometabolic health

, /PRNewswire/ -- Eli Lilly and Company (NYSE: LLY) today announced 52-week results from TOGETHER-PsO and TOGETHER-PsA, two novel open-label Phase 3b clinical trials evaluating the concomitant use of Taltz (ixekizumab) and Zepbound (tirzepatide) compared to Taltz alone in adults with moderate-to-severe plaque psoriasis (PsO) or active psoriatic arthritis (PsA), respectively, and obesity or overweight with at least one additional weight-related comorbid condition. At the previously reported Week 36 primary endpoint, Taltz and Zepbound showed statistically superior improvements in disease activity and metabolic outcomes compared to Taltz alone in both trials. New data show these improvements were maintained or further improved through Week 52, with no new safety concerns identified.

"The primary results from these first-of-their-kind studies were already remarkable, showing that Taltz and Zepbound used together improved outcomes for patients with psoriatic disease and obesity. What's especially exciting now is seeing those improvements further deepened or sustained at one year, across disease activity, inflammation and metabolic outcomes," said Mark Genovese, M.D., senior vice president of Lilly Immunology development. "People living with the cumulative burden of psoriatic disease and obesity are too often treated with separate, disconnected approaches. These data showing durable results across multiple measures support a comprehensive approach that can potentially address immunometabolic health for patients living with these chronic diseases."

Psoriasis and psoriatic arthritis are immune-mediated diseases that are often linked with metabolic dysfunction, including obesity.1,2 In the U.S., approximately 61% of people with psoriasis and 65% of people with psoriatic arthritis also have obesity or overweight with at least one weight-related comorbidity,1,2 which is often associated with poorer treatment outcomes.3-5 At baseline, the mean body mass index (BMI) of participants was 39.2 in TOGETHER-PsO and 37.6 in TOGETHER-PsA.

"Psoriatic disease is often accompanied by obesity or overweight, which can make treatment goals related to the skin and joints harder to reach," said Joseph F. Merola, M.D. MMSc, a Dermatologist, Rheumatologist, President of the Psoriasis and Psoriatic Arthritis Clinics Multicenter Advancement Network (PPACMAN), co-president of the Group for Research and Assessment of Psoriasis and Psoriatic Arthritis (GRAPPA), and President of the Rheumatology-Dermatology Society. "In psoriatic arthritis, the greater improvements in disease activity seen with Taltz and Zepbound in the first month, before clinically meaningful weight loss occurred, continued through one year. In psoriasis, the durability of complete skin clearance at one year represents real, lasting progress for patients. Paired with continued metabolic improvements, these findings show what may be possible when treating psoriatic disease and obesity concurrently."

At Week 52, the following were observed:*

Primary outcome: The primary multi-component outcome continued to improve through Week 52 in each trial. In TOGETHER-PsO, the primary outcome was Psoriasis Area Severity Index (PASI) 100 plus at least 10% weight loss (achieved by 30.6% of patients with Taltz plus Zepbound at Week 52 vs. 4.4% for Taltz alone). In TOGETHER-PsA, the primary outcome was an at least 50% reduction in PsA disease activity based on American College of Rheumatology 50 (ACR50) plus at least 10% weight loss (achieved by 39.2% of patients with Taltz and Zepbound at Week 52 vs. 1.7% for monotherapy). PsO disease activity key secondary outcome: In TOGETHER-PsO, the percentage of patients receiving Taltz and Zepbound who achieved the highest bar of complete skin clearance (PASI 100) was maintained (40.5% at Week 52 vs. 29.1% for Taltz monotherapy). PsA disease activity key secondary outcome: In TOGETHER-PsA, the proportion of patients achieving ACR50 with Taltz and Zepbound further increased (43.7% at Week 52 vs.15.7% for Taltz monotherapy). This builds on the ACR50 improvements with Taltz and Zepbound compared to Taltz alone seen as early as Week 4, before clinically meaningful weight loss was observed. Systemic inflammation: Treatment with Taltz and Zepbound also led to deeper improvements in systemic inflammation over time in both trials, as measured by high-sensitivity C-reactive protein (hsCRP). Metabolic outcomes: Improvements in BMI, blood pressure, glucose, HbA1c, triglycerides, and total cholesterol with Taltz and Zepbound compared to Taltz monotherapy were sustained or further improved. *Week 52 analyses are pre-specified, exploratory objectives without multiplicity control. Comparisons between timepoints are descriptive and not tested or controlled for multiplicity.

Adverse events in participants treated with Taltz and Zepbound together were generally mild to moderate, and the types of adverse events were consistent with the known safety profile of each medicine. In the concomitant treatment arm in both trials, the adverse events reported in ≥5% of participants were nausea, diarrhea, constipation, injection site reactions, vomiting, dizziness and headache.

Taltz is a monoclonal antibody that selectively binds with interleukin 17A (IL-17A) cytokine and inhibits its interaction with the IL-17 receptor. Taltz is the only biologic with data supporting a potential comprehensive treatment approach alongside an incretin therapy for people with psoriasis or psoriatic arthritis who also have obesity or overweight. Zepbound is the only FDA-approved dual GIP (glucose-dependent insulinotropic polypeptide) and GLP-1 (glucagon-like peptide-1) receptor agonist obesity management medication.

Detailed 52-week results from TOGETHER-PsO and TOGETHER-PsA will be presented at future medical meetings and published in peer-reviewed journals.

About the TOGETHER-PsO and TOGETHER-PsA Trials
TOGETHER-PsO (NCT06588283) and TOGETHER-PsA (NCT06588296) are 52-week Phase 3b, randomized, multicenter, assessor-blinded, open-label studies assessing the efficacy and safety of concomitant administration of Taltz and Zepbound compared with Taltz alone in adults with psoriatic disease and obesity or overweight with at least one additional weight-related comorbid condition. TOGETHER-PsO enrolled 274 adults with moderate-to-severe plaque psoriasis, and TOGETHER-PsA enrolled 271 adults with active psoriatic arthritis. Participants were randomized 1:1 to receive either Taltz alone or concomitantly with Zepbound, both administered subcutaneously, and received counseling on a reduced-calorie diet and increased physical activity. The primary objectives at Week 36 are the proportion of participants achieving both PASI 100 and ≥10% weight reduction in TOGETHER-PsO and both ACR50 and ≥10% weight reduction in TOGETHER-PsA. Participants were required to have a BMI ≥30 kg/m², or ≥27 to <30 kg/m² with at least one weight-related comorbidity.

About Taltz (ixekizumab)6
Taltz is a monoclonal antibody that selectively binds with interleukin 17A (IL-17A) cytokine and inhibits its interaction with the IL-17 receptor. IL-17A is a naturally occurring cytokine that is involved in normal inflammatory and immune responses. Taltz inhibits the release of pro-inflammatory cytokines and chemokines. Taltz is approved to treat adults with active psoriatic arthritis and adults and children 6 years and older with moderate-to-severe plaque psoriasis who are candidates for systemic therapy or phototherapy. Additionally, Taltz is approved for adults with active ankylosing spondylitis, and adults with active non-radiographic axial spondyloarthritis with objective signs of inflammation.

About Zepbound (tirzepatide) injection7
Zepbound (tirzepatide) is the first and only dual GIP (glucose-dependent insulinotropic polypeptide) and GLP-1 (glucagon-like peptide-1) receptor agonist obesity medication. Zepbound tackles an underlying cause of excess weight. It reduces appetite and how much you eat. Zepbound is indicated for adults with obesity, or some adults who are overweight and also have at least one weight-related medical problem, to lose weight and keep it off. Additionally, Zepbound is FDA-approved to treat adults with moderate-to-severe obstructive sleep apnea and obesity. Zepbound should be used with a reduced calorie diet and increased physical activity.

TALTZ INDICATIONS AND SAFETY SUMMARY
Taltz® (tȯl-ts) is an injectable medicine used to treat:

People 6 years of age and older with moderate to severe plaque psoriasis who may benefit from taking injections or pills (systemic therapy) or treatment using ultraviolet or UV light (phototherapy). Adults with active psoriatic arthritis. Adults with active ankylosing spondylitis. Adults with active non-radiographic axial spondyloarthritis with objective signs of inflammation. It is not known if Taltz is safe and effective in children for conditions other than plaque psoriasis or in children under 6 years of age.

Warnings - Taltz affects the immune system. It may increase your risk of infections, some people have had serious infections, including tuberculosis (TB), and infections caused by bacteria, fungi, or viruses that can spread throughout the body. Some people have been hospitalized from these infections. Do not use Taltz if you have any symptoms of infection, unless your doctor tells you to. If you have a symptom after starting Taltz, call your doctor right away.

Your doctor should check you for TB before you start Taltz, and watch you closely for signs of TB during and after treatment with Taltz. If you have TB, or had it in the past, your doctor may treat you for it before you start Taltz.

Do not use Taltz if you have had a serious allergic reaction to ixekizumab or any other ingredient in Taltz, such as: swelling of your eyelids, lips, mouth, tongue or throat, trouble breathing, feeling faint, throat or chest tightness, or skin rash. Get emergency help right away if you have any of these reactions. See the Medication Guide that comes with Taltz for a list of ingredients.

Severe skin reactions that look like eczema can happen during treatment with Taltz from days to months after your first dose and can sometimes lead to hospitalization. Your doctor may temporarily stop treatment with Taltz if you develop severe skin reactions. Tell your doctor if you have any of the following: redness or rash, itching, patches, your skin is dry or feels like leather, blisters or abrasions that ooze or become crusty, small bumps or plaques with scale or crusting.

Crohn's disease or ulcerative colitis (inflammatory bowel disease) can start or get worse with Taltz use. Tell your doctor if you have any of these symptoms or if they get worse: stomach pain, diarrhea, and weight loss.

You should not get live vaccines while taking Taltz. You should get the vaccines you need before you start Taltz.

Common side effects
The most common side effects of Taltz include:

Injection site reactions Nausea Upper respiratory infections Fungal skin infections Tell your doctor if you have any side effects. You can report side effects at 1-800-FDA-1088 or www.fda.gov/medwatch.

Before using
Before you use Taltz, review these questions with your doctor:

Are you being treated for an infection? Do you have an infection that does not go away or keeps coming back? Do you have TB or have you been in close contact with someone with TB? Do you have possible symptoms of an infection such as fever, cough, sores, diarrhea, or other symptoms? Ask your doctor about other possible symptoms. Do you have Crohn's disease or ulcerative colitis? Tell your doctor if:

You need any vaccines or have had one recently. You take prescription or over-the-counter medicines, vitamins, or herbal supplements. You are pregnant or planning to become pregnant. It is not known if Taltz can harm an unborn baby. Pregnancy Exposure Registry: There is a pregnancy registry to collect information about women who are exposed to Taltz during pregnancy. The purpose of this registry is to collect information about the health of you and your baby. If you become pregnant while taking Taltz, you are encouraged to enroll in the pregnancy registry by calling 1-800-284-1695 or by visiting online at http://www.pregnancyregistry.lilly.com. You are breastfeeding or planning to breastfeed. It is not known if Taltz passes into breastmilk. How to take
See the instructions for use that come with Taltz. There you will find information about how to store, prepare, and inject Taltz. Adults may self-inject after receiving training from a healthcare provider.

For children 6 to 17 years of age:

If your child's healthcare provider decides that you may give Taltz injections at home, you should receive training on the right way to prepare and inject Taltz. Do not try to give Taltz to your child until you have been shown how to inject Taltz. Children should not inject themselves with Taltz. You or an adult caregiver should prepare and give Taltz injections to your child. Learn more
Taltz is a prescription medicine available as a 80 mg/mL, 40 mg/0.5mL, 20 mg/0.25mL injection. For more information, call 1-800-545-5979 or go to taltz.lilly.com.

This summary provides basic information about Taltz but does not include all information known about this medicine. Read the information that comes with your prescription each time your prescription is filled. This information does not take the place of talking with your doctor. Be sure to talk to your doctor or other healthcare provider about Taltz and how to take it. Your doctor is the best person to help you decide if Taltz is right for you.

IX CON BS 20AUG2024

ZEPBOUND INDICATIONS AND SAFETY SUMMARY WITH WARNINGS
Zepbound® (ZEHP-bownd) is an injectable prescription medicine used with a reduced-calorie diet and increased physical activity to help adults with:

obesity, or some adults with overweight who also have weight-related medical problems, to lose excess body weight and keep the weight off.  moderate-to-severe obstructive sleep apnea (OSA) and obesity to improve their OSA. Zepbound contains tirzepatide and should not be used with other tirzepatide-containing products or any GLP-1 receptor agonist medicines. It is not known if Zepbound is safe and effective for use in children.

Warnings - Zepbound may cause tumors in the thyroid, including thyroid cancer. Watch for possible symptoms, such as a lump or swelling in the neck, hoarseness, trouble swallowing, or shortness of breath. If you have any of these symptoms, tell your healthcare provider.

Do not use Zepbound if you or any of your family have ever had a type of thyroid cancer called medullary thyroid carcinoma (MTC). Do not use Zepbound if you have Multiple Endocrine Neoplasia syndrome type 2 (MEN 2). Do not use Zepbound if you have had a serious allergic reaction to tirzepatide or any of the ingredients in Zepbound. KwikPen®: Do not share your KwikPen with other people, even if the pen needle has been changed. You may give other people a serious infection or get a serious infection from them.

Zepbound may cause serious side effects, including:
Severe stomach problems. Stomach problems, sometimes severe, have been reported in people who use Zepbound. Tell your healthcare provider if you have stomach problems that are severe or will not go away.

Dehydration leading to kidney problems. Diarrhea, nausea, and vomiting may cause a loss of fluids (dehydration), which may cause kidney problems. It is important for you to drink fluids to help reduce your chance of dehydration. Tell your healthcare provider right away if you have nausea, vomiting, or diarrhea that does not go away.

Gallbladder problems. Gallbladder problems have happened in some people who use Zepbound. Tell your healthcare provider right away if you get symptoms of gallbladder problems, which may include pain in your upper stomach (abdomen), fever, yellowing of skin or eyes (jaundice), or clay-colored stools.

Inflammation of the pancreas (pancreatitis). Stop using Zepbound and call your healthcare provider right away if you have severe pain in your stomach area (abdomen) that will not go away, with or without nausea or vomiting. You may feel the pain from your abdomen to your back.

Serious allergic reactions. Stop using Zepbound and get medical help right away if you have any symptoms of a serious allergic reaction, including swelling of your face, lips, tongue or throat, problems breathing or swallowing, severe rash or itching, fainting or feeling dizzy, or very rapid heartbeat.

Low blood sugar (hypoglycemia). Your risk for getting low blood sugar may be higher if you use Zepbound with medicines that can cause low blood sugar, such as a sulfonylurea or insulin. Signs and symptoms of low blood sugar may include dizziness or light-headedness, sweating, confusion or drowsiness, headache, blurred vision, slurred speech, shakiness, fast heartbeat, anxiety, irritability, mood changes, hunger, weakness or feeling jittery.

Changes in vision in patients with type 2 diabetes. Tell your healthcare provider if you have changes in vision during treatment with Zepbound.

Food or liquid getting into the lungs during surgery or other procedures that use anesthesia or deep sleepiness (deep sedation). Zepbound may increase the chance of food getting into your lungs during surgery or other procedures. Tell all your healthcare providers that you are taking Zepbound before you are scheduled to have surgery or other procedures.

Common side effects
The most common side effects of Zepbound include nausea, diarrhea, vomiting, constipation, stomach (abdominal) pain, indigestion, injection site reactions, feeling tired, allergic reactions, belching, hair loss, and heartburn. These are not all the possible side effects of Zepbound. Talk to your healthcare provider about any side effect that bothers you or doesn't go away.

Tell your doctor if you have any side effects. You can report side effects at 1-800-FDA-1088 or www.fda.gov/medwatch. 

Before using Zepbound 

Your healthcare provider should show you how to use Zepbound before you use it for the first time.  Talk to your healthcare provider about low blood sugar and how to manage it. Tell your healthcare provider if you are taking medicines to treat diabetes including an insulin or sulfonylurea.  If you take birth control pills by mouth, talk to your healthcare provider before you use Zepbound. Birth control pills may not work as well while using Zepbound. Your healthcare provider may recommend another type of birth control for 4 weeks after you start Zepbound and for 4 weeks after each increase in your dose of Zepbound. Review these questions with your healthcare provider: 

❑ Do you have other medical conditions, including problems with your pancreas, or severe problems with your stomach, such as slowed emptying of your stomach (gastroparesis) or problems digesting food?
❑ Do you take diabetes medicines, such as insulin or sulfonylureas?
❑ Do you have a history of diabetic retinopathy?
❑ Are you scheduled to have surgery or other procedures that use anesthesia or deep sleepiness (deep sedation)?
❑ Do you take any other prescription medicines or over-the-counter drugs, vitamins, or herbal supplements?
❑ Are you pregnant, plan to become pregnant, breastfeeding, or plan to breastfeed? Zepbound may harm your unborn baby. Tell your healthcare provider if you become pregnant while using Zepbound. Zepbound may pass into your breast milk. You should talk with your healthcare provider about the best way to feed your baby while using Zepbound.

Pregnancy Exposure Registry: There will be a pregnancy exposure registry for women who have taken Zepbound during pregnancy. The purpose of this registry is to collect information about the health of you and your baby. Talk to your healthcare provider about how you can take part in this registry, or you may contact Lilly at 1-800-LillyRx (1-800-545-5979). How to take 

Read the Instructions for Use that come with Zepbound. Use Zepbound exactly as your healthcare provider says. Use Zepbound with a reduced-calorie diet and increased physical activity. Inject Zepbound under the skin (subcutaneously) of your stomach (abdomen), thigh, or 
have another person inject in the back of the upper arm. Do not inject ZEPBOUND into a muscle (intramuscularly) or vein (intravenously). Use Zepbound 1 time each week, at any time of the day.  Change (rotate) your injection site with each weekly injection. Do not use the same site for each injection. If you take too much Zepbound, call your healthcare provider, call the Poison Help line at 1-800-222-1222 or go to the nearest hospital emergency room right away.

Zepbound is approved as a 2.5 mg, 5 mg, 7.5 mg, 10 mg, 12.5 mg, and 15 mg injection.

Learn more
Zepbound is a prescription medicine. For more information, call 1-800-LillyRx (1-800-545-5979) [or go to www.zepbound.lilly.com].

This summary provides basic information about Zepbound but does not include all information known about this medicine. Read the information that comes with your prescription each time your prescription is filled. This information does not take the place of talking with your healthcare provider. Be sure to talk to your healthcare provider about Zepbound and how to take it. Your healthcare provider is the best person to help you decide if Zepbound is right for you.

ZP CON BS 25FEB2026
Zepbound®, its delivery device base and KwikPen® are registered trademarks owned or licensed by Eli Lilly and Company, its subsidiaries, or affiliates.

About Lilly
Lilly is a medicine company turning science into healing to make life better for people around the world. We've been pioneering life-changing discoveries for 150 years, and today our medicines help tens of millions of people across the globe. Harnessing the power of biotechnology, chemistry and genetic medicine, our scientists are urgently advancing new discoveries to solve some of the world's most significant health challenges: redefining diabetes care; treating obesity and curtailing its most devastating long-term effects; advancing the fight against Alzheimer's disease; providing solutions to some of the most debilitating immune system disorders; and transforming the most difficult-to-treat cancers into manageable diseases. With each step toward a healthier world, we're motivated by one thing: making life better for millions more people. That includes delivering innovative clinical trials that reflect the diversity of our world and working to ensure our medicines are accessible and affordable. To learn more, visit Lilly.com and Lilly.com/news, or follow us on Facebook, Instagram, and LinkedIn. P-LLY

Trademarks and Trade Names 
All trademarks or trade names referred to in this press release are the property of the company, or, to the extent trademarks or trade names belonging to other companies are references in this press release, the property of their respective owners. Solely for convenience, the trademarks and trade names in this press release are referred to without the ® and ™ symbols, but such references should not be construed as any indicator that the company or, to the extent applicable, their respective owners will not assert, to the fullest extent under applicable law, the company's or their rights thereto. We do not intend the use or display of other companies' trademarks and trade names to imply a relationship with, or endorsement or sponsorship of us by, any other companies.

Cautionary Statement Regarding Forward-Looking Statements 
This press release contains forward-looking statements (as that term is defined in the Private Securities Litigation Reform Act of 1995) about Taltz (ixekizumab) as a treatment for moderate to severe plaque psoriasis and active psoriatic arthritis and Zepbound (tirzepatide) as a treatment for adults with obesity or overweight, and potential comprehensive treatment strategies for patients with psoriatic disease and obesity, and reflects Lilly's current beliefs and expectations. However, as with any pharmaceutical product, there are substantial risks and uncertainties in the process of drug research, development and commercialization. Among other things, there is no guarantee that future study results will be consistent with the results to date, or that Lilly will execute its strategies as planned. For further discussion of these and other risks and uncertainties that could cause actual results to differ from Lilly's expectations, see Lilly's Form 10-K and Form 10-Q filings with the United States Securities and Exchange Commission. Except as required by law, Lilly undertakes no duty to update forward-looking statements to reflect events after the date of this release.

References
1 Armstrong et al, Addressing the Obesity-Psoriasis Connection: Prevalence, Incidence, and Comorbidity Insights from a Large US Population of 19.9 Million (2018-2024). Presented at Maui Derm, 2026.
2 Estimated from a large real-world population of care-seeking adults in the US in 2024, Truveta (data on file). Comorbidities include atherosclerotic cardiovascular disease (ASCVD), type 2 diabetes mellitus (T2DM), dyslipidemia, hypertension, obstructive sleep apnea (OSA).
3 Enos, Clinton W. et al. Comorbid obesity and history of diabetes are independently associated with poorer treatment response to biologics at 6 months: A prospective analysis in Corrona Psoriasis Registry. Journal of the American Academy of Dermatology, Volume 86, Issue 1, 68 - 76.
4 Proft F, et al. Nat Rev Rheumatol. 2026 Feb;22(2):132-144.
5 di Minno MN, et al. Arthritis Care Res (Hoboken). 2013;65(1):141-147. 
6 Taltz. Prescribing Information. Lilly USA, LLC.
7 Zepbound. Prescribing Information. Lilly USA, LLC.

SOURCE Eli Lilly and Company

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Eli Lilly (NYSE:LLY | LLY Price Prediction) is trading at $1,255.40, and management has guided fiscal 2026 revenue between $85 billion and $87 billion. That puts the $100 billion revenue mark within reach.

Our 24/7 Wall St. price target for Lilly is $1,480.01, implying 17.89% upside over the next 12 months. Our recommendation is buy, with confidence level 90%.

Metric Value Current Price $1,255.40 24/7 Wall St. Price Target $1,480.01 Upside 17.89% Recommendation BUY Confidence Level 90% Why Lilly’s Stock Looks Different in August 2026 Lilly is up 6.38% over the past week, 8.1% over the past month, and 77.98% over the past year, trading just under its 52-week high of $1,292.65.

Q2 2026 drove the rerating: revenue of $22.97 billion grew 47.67% year over year and beat consensus by 11.06%. EPS of $8.38 beat by 27.27%. Mounjaro delivered $9.94 billion (+91%) and Zepbound another $4.93 billion. In May, Lilly became the first drugmaker to hit a $1 trillion market value, and it now sits above that at $1.12 trillion.

Why Bulls See a Breakout Ahead The bull case rests on three engines. First, the incretin franchise generated nearly $14.87 billion in a single quarter, with Mounjaro international sales growing 172%.

Second, orforglipron (Foundeo), the approved oral GLP-1, is rolling out globally in 2027, with prescriber adoption jumping from approximately 8,000 to 36,000.

Third, retatrutide, whose TRIUMPH-1 trial showed weight loss approaching bariatric surgery levels, is on track for a Q1 2027 BLA.

CEO David Ricks called “Lilly’s future, after 150 years, has never been brighter.” Our bull-case scenario points to $1,704.19, a 35.75% total return, consistent with 5 strong-buy and 17 buy consensus ratings.

What Could Go Wrong Realized U.S. prices fell roughly 9% ex-rebate, and Lilly took $2.78 billion in IPR&D charges from heavy M&A activity. Bulls counter that these charges reflect deliberate pipeline investment in Verve, Ataibeckley, and Kelonia, and that non-GAAP performance margin expanded to 54.8%.

Concentration is another risk: Mounjaro and Zepbound represent more than half of revenue, and Novo Nordisk’s Wegovy pill launch will contest the oral category. Our bear case implies $1,222.27, a -2.64% return.

How Lilly Compares to Novo Nordisk and Merck Novo Nordisk (NYSE:NVO) is the only true incretin peer, with Q1 2026 adjusted sales falling 4% at constant exchange rates as U.S. pricing eroded. Novo trades at a market cap of $156.4 billion, roughly one-seventh of Lilly’s, despite a comparable GLP-1 franchise. That valuation gap reflects the market’s premium for Lilly’s growth trajectory.

Merck (NYSE:MRK) provides the large-cap pharma valuation floor. Merck guides FY2026 non-GAAP EPS of $5.04 to $5.16 on revenue of $65.8 billion to $67 billion, roughly comparable to Lilly with a fraction of the growth.

Merck’s market cap of $376.4 billion versus Lilly’s $1.12 trillion reflects the growth premium. Against that field, Lilly’s forward P/E of 35 looks rich but defensible, and our 24/7 Wall St. price target of $1,480.01 reads as reasonable.

Eli Lilly Price Prediction 2026-2030 I’m sticking with the buy call and the 24/7 Wall St. price target of $1,480.01 at 90% confidence. The tipping factor is retatrutide readouts stacked against a raised revenue guide and margin expansion of nine percentage points.

I’d be a buyer if the Q1 2027 retatrutide BLA lands on schedule and Foundayo international launches track UAE uptake. I would stay on the sidelines if U.S. price erosion accelerates past management’s guided offset.

Here is where our model projects Lilly could trade, assuming current trajectories hold.

Year 24/7 Wall St. Price Target 2026 $1,324 2027 $1,480 2028 $1,673 2029 $1,823 2030 $1,988 These projections assume Lilly continues executing on its incretin franchise and pipeline. Meaningful upside or downside could result from retatrutide’s regulatory outcome, orforglipron’s international ramp, and U.S. GLP-1 pricing policy.

Contact [email protected] for any questions or corrections.

Eli Lilly (LLY.N) said on Monday it has launched its oral pill, ​Foundayo, in the UK for weight ‌management and type 2 diabetes, making it the first country in Europe where the treatment ​is available.

Here are some details:

The ​pill, known chemically as orforglipron, will ⁠be available via private prescription ​after Britain's medicines regulator authorised the drug on ​August 10, making it the second GLP-1 oral pill to be cleared in the UK after Novo Nordisk's (NOVOb.CO) Wegovy.

Lilly ​said it was working with ​England's health cost-effectiveness watchdog, the National Institute for ‌Health ⁠and Care Excellence (NICE), on a potential roll-out at the state-run National Health Service.

Lilly said Foundayo will likely be priced between £100 ​and £120, ​lower than ⁠its Mounjaro injection's £330 for a month's supply.

Foundayo remains under ​review in the European Union, ​while ⁠Novo's Wegovy pill has won a positive recommendation from the European Medicines Agency, ⁠with ​a final decision from ​the European Commission pending.

Eli Lilly
LLY +0.88% 96

, the drugmaking giant behind Mounjaro and Zepbound, jumped approximately 1.9% to $1,268.23 Friday afternoon. Thursday's dip did not scare buyers. It brought them back. The stock is once again charging toward its 52-week high as Wall Street bets that Lilly's obesity-drug machine still has plenty of fuel.

The numbers are monstrous. Second-quarter revenue rocketed 48% to $23 billion. Mounjaro sales exploded 91% to $9.94 billion, while Zepbound delivered another $4.93 billion after growing 46%. Lilly responded by lifting its full-year revenue forecast to between $85 billion and $87 billion. And this is not a two-drug story forever. According to Investor's Business Daily, Lilly has 35 Phase 2 programs and another 41 therapies in Phase 3 trials.

Still, the concentration risk is impossible to ignore. Mounjaro and Zepbound generated roughly 65% of quarterly revenue, putting manufacturing, insurance coverage and competitive pricing under a brutal spotlight. Yet investors keep paying up because Lilly keeps delivering growth that almost no company of its size can touch. Even better, the stock's $1,268.23 market price remains 16.32% below its $1,520 GF Value estimate. Lilly is expensive at roughly 43 times trailing earnings—but Friday's rally says Wall Street still sees firepower behind that premium.

Check the Warning Signs for

LLY

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Archer Investment Corp lifted its stake in Eli Lilly and Company (NYSE:LLY – Free Report) by 10.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,262 shares of the company’s stock after acquiring an additional 795 shares during the quarter. Eli Lilly and Company makes up approximately 1.9% of Archer Investment Corp’s investment portfolio, making the stock its 9th largest position. Archer Investment Corp’s holdings in Eli Lilly and Company were worth $9,909,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Iams Wealth Management LLC acquired a new position in shares of Eli Lilly and Company in the 4th quarter worth approximately $754,000. Amundi boosted its position in shares of Eli Lilly and Company by 9.9% during the 1st quarter. Amundi now owns 5,055,025 shares of the company’s stock valued at $4,649,464,000 after purchasing an additional 454,549 shares in the last quarter. Generali Investments Management Co LLC lifted its stake in Eli Lilly and Company by 17.5% in the second quarter. Generali Investments Management Co LLC now owns 10,220 shares of the company’s stock valued at $12,258,000 after buying an additional 1,521 shares during the period. Whitener Capital Management Inc. increased its stake in shares of Eli Lilly and Company by 79.3% in the 2nd quarter. Whitener Capital Management Inc. now owns 2,960 shares of the company’s stock valued at $3,550,000 after acquiring an additional 1,309 shares in the last quarter. Finally, May Hill Capital LLC lifted its position in shares of Eli Lilly and Company by 131.6% during the 4th quarter. May Hill Capital LLC now owns 3,170 shares of the company’s stock valued at $3,408,000 after acquiring an additional 1,801 shares during the period. Institutional investors and hedge funds own 82.53% of the company’s stock.

Insiders Place Their Bets In related news, CAO Donald A. Zakrowski sold 2,000 shares of Eli Lilly and Company stock in a transaction on Monday, August 10th. The stock was sold at an average price of $1,185.01, for a total transaction of $2,370,020.00. Following the sale, the chief accounting officer directly owned 1,526 shares in the company, valued at approximately $1,808,325.26. This trade represents a 56.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Anat Hakim sold 5,000 shares of the business’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $1,190.00, for a total value of $5,950,000.00. Following the completion of the transaction, the executive vice president directly owned 11,875 shares in the company, valued at approximately $14,131,250. This represents a 29.63% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.14% of the company’s stock.

Key Stories Impacting Eli Lilly and Company Here are the key news stories impacting Eli Lilly and Company this week:

Positive Sentiment: The U.K. regulator approved Lilly’s once-daily oral weight-loss pill, Foundayo (orforglipron), giving the company a potentially important first-mover advantage for an obesity pill in Europe. The approval expands Lilly’s addressable market beyond injectable treatments such as Mounjaro and Zepbound. Eli Lilly Just Scored Europe’s First Weight Loss Pill Approval Positive Sentiment: Lilly is expanding its obesity pipeline with a new Phase 1 macupatide study in Japan. Although early-stage, the trial reinforces the company’s efforts to develop additional weight-management therapies and support long-term growth. Lilly Expands Obesity Pipeline With Fresh Macupatide Trial in Japan Positive Sentiment: Recent earnings showed continued operating momentum: quarterly revenue rose about 48% year over year to roughly $23 billion, while adjusted EPS beat expectations. Growth was led by Mounjaro, Zepbound and other key medicines, and management raised full-year 2026 guidance. Foundayo also generated an initial $98 million in quarterly sales. 5 Revealing Analyst Questions From Eli Lilly’s Q2 Earnings Call Neutral Sentiment: Analysts continue to view LLY as a fundamental leader, with reported price targets generally above the current trading level. However, the stock is approaching a technical buy point after a large earnings-driven advance, making valuation and chart resistance important near-term considerations. Eli Lilly Stock Nears Buy Point After Earnings-Fueled Gains Negative Sentiment: Insider-selling headlines may be adding pressure: executives have sold shares in recent months, including a reported 2,000-share sale by CFO and Chief Accounting Officer Donald Zakrowski. Lilly also trades at a demanding earnings multiple, leaving the stock sensitive to profit-taking or any signs of slower obesity-drug growth. Donald Zakrowski Sells 2,000 Shares of Eli Lilly Stock Wall Street Analyst Weigh In LLY has been the subject of several research analyst reports. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $1,283.00 price target on shares of Eli Lilly and Company in a research note on Friday, May 22nd. Barclays increased their price objective on shares of Eli Lilly and Company from $1,350.00 to $1,400.00 and gave the stock an “overweight” rating in a research report on Monday, May 4th. Cantor Fitzgerald raised their target price on Eli Lilly and Company from $1,350.00 to $1,410.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Royal Bank Of Canada boosted their target price on Eli Lilly and Company from $1,250.00 to $1,500.00 and gave the company an “outperform” rating in a research report on Wednesday, July 8th. Finally, Guggenheim upped their price target on Eli Lilly and Company from $1,235.00 to $1,273.00 and gave the stock a “buy” rating in a research note on Monday, July 13th. One investment analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $1,292.18.

Check Out Our Latest Stock Analysis on Eli Lilly and Company

Eli Lilly and Company Price Performance LLY opened at $1,182.24 on Monday. Eli Lilly and Company has a 1 year low of $685.15 and a 1 year high of $1,249.45. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.35 and a quick ratio of 1.00. The company has a market capitalization of $1.11 trillion, a price-to-earnings ratio of 39.67, a P/E/G ratio of 1.39 and a beta of 0.51. The firm’s fifty day moving average price is $1,170.82 and its two-hundred day moving average price is $1,052.69.

Eli Lilly and Company (NYSE:LLY – Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $8.38 earnings per share for the quarter, beating analysts’ consensus estimates of $6.40 by $1.98. The company had revenue of $22.97 billion for the quarter, compared to analyst estimates of $20.82 billion. Eli Lilly and Company had a net margin of 33.53% and a return on equity of 97.83%. The firm’s revenue was up 47.7% on a year-over-year basis. During the same period last year, the firm earned $6.31 earnings per share. Eli Lilly and Company has set its FY 2026 guidance at 35.500-36.500 EPS. As a group, analysts anticipate that Eli Lilly and Company will post 36.35 earnings per share for the current fiscal year.

Eli Lilly and Company Dividend Announcement The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Friday, August 14th will be given a dividend of $1.73 per share. This represents a $6.92 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Friday, August 14th. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 23.22%.

Eli Lilly and Company Company Profile (Free Report)

Eli Lilly and Company (NYSE: LLY) is a global pharmaceutical company founded in 1876 and headquartered in Indianapolis, Indiana. The company researches, develops, manufactures and commercializes a broad range of medicines and therapies for patients worldwide. Eli Lilly maintains operations and commercial presence across North America, Europe, Asia and other regions, serving both developed and emerging markets. The company has been led in recent years by President and Chief Executive Officer David A.

See Also Five stocks we like better than Eli Lilly and Company The Metals Company’s Big Bet Now Comes Down to a License OneSpaWorld Keeps Turning Cruise Demand Into Record Earnings Meta and Tesla Are Rebounding From Oversold Levels—Now What? AMG’s Alternatives Boom Powers Record Growth Want to see what other hedge funds are holding LLY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Eli Lilly and Company (NYSE:LLY – Free Report).

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Item 1 of 3 Maziar Mike Doustdar, CEO and president of global healthcare company Novo Nordisk, speaks during an interview in New York City, U.S., August 12, 2026. REUTERS/Angelina Katsanis

[1/3]Maziar Mike Doustdar, CEO and president of global healthcare company Novo Nordisk, speaks during an interview in New York City, U.S., August 12, 2026. REUTERS/Angelina Katsanis Purchase Licensing Rights, opens new tab

SummaryCompaniesNovo bets new Wegovy pill and broader pipeline can help it regain ground lost to Lilly's ZepboundCEO says Wegovy pill holds 90% of oral GLP-1 marketNovo aims to launch CagriSema next year despite trial weight loss trailing ZepboundNEW YORK, Aug 13 (Reuters) - Novo Nordisk (NOVOb.CO), opens new tab CEO Mike Doustdar said investors are underestimating the demand for differentiation among obesity drugs, ‌and that new treatment options like pills will keep it from becoming a winner-take-all battle with rival Eli Lilly.

Novo was first to bring a highly effective GLP-1 weight-loss injection, Wegovy, to the U.S. market, but is under pressure to regain ground lost to Lilly's (LLY.N), opens new tab Zepbound in a business that ​analysts expect will be worth more than $100 billion a year by 2030.

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Doustdar, who took the helm at the Danish ​drugmaker a year ago, said that patients are just beginning to understand which GLP-1 drug is ⁠best suited to them, and he expects more segmentation as new medicines are approved. More than 100 million U.S. adults ​are classified as obese.

"Right now the investor community has thought this is supposed to be a zero-sum game between two players - ​there's a loser and a winner," Doustdar said in an interview with Reuters on Wednesday.

"As you foresee the future of GLP-1s and obesity and weight-loss drugs, it will not be Coke versus Pepsi. It will be Coke and Pepsi and Fanta and Dr Pepper and Red Bull. People are ​thirsty, and they can make their choices," he said.

Novo shares have fallen sharply since hitting a peak in 2024, while ​Lilly shares have continued to rise, pushing the company's market capitalization above $1 trillion.

Doustdar compared his vision for Novo's obesity portfolio to its insulin business ‌for ⁠diabetes, where the company sells 50% of the world's insulins across 12 different brands, rather than dominating with one specific treatment.

"They all reduce sugar, but they do also different things. GLP-1s all reduce weight, but they all do different things," he said.

Novo's new pill version of Wegovy and a pipeline of experimental drugs are a key focus for investors.

Doustdar said the Wegovy pill currently ​has 90% market share in ​the oral GLP-1 market, in ⁠part because it has data showing better weight loss than Lilly's Foundayo pill.

He said it was difficult to project what percentage of patients would end up using pills, but said "we're in a ​very good place if it becomes a 50-50 market" between oral medications and injections.

Novo said ​in January that ⁠pills could comprise more than a third of GLP-1 use by 2030.

Novo's experimental next-generation obesity drug CagriSema has disappointed investors in clinical trials, helping patients lose an average of 23% of their body weight compared to more than 25% for Zepbound.

Doustdar said CagriSema would still offer ⁠a powerful ​addition to existing treatments. The company aims to launch it next year.

CagriSema "has ​been written off pretty much by all investors," he said. "And I say to people, when is the last time a doctor had a single medicine in their ​toolbox to treat millions?"

Reporting by Michael Erman; Additional reporting by Amina Niasse, Chris Prentice and Sabrina Valle; Editing by Jamie Freed

Our Standards: The Thomson Reuters Trust Principles., opens new tab

Files six new lawsuits as company escalates fight to protect patients

, /PRNewswire/ -- Eli Lilly and Company (NYSE: LLY) today escalated its continued fight to protect patients from the dangerous black market for retatrutide, filing six new lawsuits against U.S. entities selling black-market products in addition to having referred hundreds of bad actors to regulators and law enforcement worldwide. Lilly is also calling on the entities that sellers use to conduct their illegal business—social media and e-commerce platforms, credit card companies, payment processors and shipping and logistics carriers—to help protect patients and fight this illicit activity. According to the U.S. Food and Drug Administration (FDA), unapproved drugs sold for human use may pose significant risks for patients and are illegal.

"Retatrutide is being rigorously studied as part of a comprehensive clinical trial development program," said David A. Hyman, M.D., Lilly's chief medical officer. "We take the responsibility of evaluating the safety and efficacy of our investigational medicines seriously. What is being sold on the black market is not a medicine – it is entirely unverified, unapproved and not worth the risk."

Retatrutide is an investigational molecule in Phase 3 clinical trials for obesity, type 2 diabetes and other related indications. No medicine containing retatrutide has yet been approved for human use by any regulatory agency in the world. It cannot be sold to consumers.

FDA has made clear that sales of unapproved retatrutide to consumers are illegal, that retatrutide cannot be lawfully compounded, and that so-called "research-use only" products "are of unknown quality and may be harmful to [consumers'] health." Yet black-market sellers and businesses posing as legitimate medical providers openly sell retatrutide as a weight-loss "hack." These "medical spas," "wellness clinics" and self-styled suppliers are not practicing medicine; they are selling illegal drugs, frequently made by unregulated foreign manufacturers. Regulators, customs agencies and law enforcement worldwide have warned of the same dangers and acted on them, raiding clandestine manufacturing sites, seizing shipments and arresting those involved.

Lilly's lawsuits target U.S. entities selling illegal retatrutide products, including compounding pharmacies, medical spas, and online sellers that falsely claim their drugs are for "research-use only" when they are actually intended for human use. Lilly has also referred more than 200 individuals and entities to FDA, the U.S. Department of Justice, state attorneys general, law enforcement, and professional licensing boards, and is working with global regulators, law enforcement, and customs authorities to stop this illegal market. The company has reported more than 14,000 websites, advertisements, social media posts and product listings that unlawfully market retatrutide in over 100 countries to internet service providers, social media platforms, and e-commerce companies, but some continue to amplify misleading content to vulnerable consumers.

Now, Lilly is calling on others to join the fight for patient safety:

Drug regulators, customs agencies, law enforcement and other government authorities must treat the sale of unapproved retatrutide as the urgent public health crisis it is, prioritizing enforcement and coordinating across borders to dismantle the criminal networks selling these drugs. Social media and e-commerce platforms must stop enabling—and in some cases fueling—this illegal market and must take proactive steps to block this conduct before it reaches consumers. Credit card companies, payment processors, shipping and logistics companies, and other entities that sellers use to conduct their illegal businesses must cut off the infrastructure enabling this illegal trade. Healthcare providers should raise awareness of the potentially serious risks involved. Everyone can help by reporting illegal retatrutide products to law enforcement, drug and pharmacy regulators, and the Lilly Answers Center at 1-800-LillyRx. Lilly's lawsuits include:

Eli Lilly & Co. v. Aesthetic Envy Cosmetic Centers LLC, d/b/a Aesthetic Envy (N.D. Cal.) Eli Lilly & Co. v. Astra LLC, d/b/a Astra Peptides (W.D. Tex.) Eli Lilly & Co. v. Legendary Peptides, LLC (E.D. Tex.) Eli Lilly & Co. v. Striker Pharmacy, LLC (S.D. Tex.) Eli Lilly & Co. v. Texas Peptides Inc. (W.D. Tex.) Eli Lilly & Co. v. Lone Star Peptide Co. (S.D. Tex.) About Lilly
Lilly is a medicine company turning science into healing to make life better for people around the world. We've been pioneering life-changing discoveries for 150 years, and today our medicines help tens of millions of people across the globe. Harnessing the power of biotechnology, chemistry and genetic medicine, our scientists are urgently advancing new discoveries to solve some of the world's most significant health challenges: redefining diabetes care; treating obesity and curtailing its most devastating long-term effects; advancing the fight against Alzheimer's disease; providing solutions to some of the most debilitating immune system disorders; and transforming the most difficult-to-treat cancers into manageable diseases. With each step toward a healthier world, we're motivated by one thing: making life better for millions more people. That includes delivering innovative clinical trials that reflect the diversity of our world and working to ensure our medicines are accessible and affordable. To learn more, visit Lilly.com and Lilly.com/news, or follow us on Facebook, Instagram, and LinkedIn. C-LLY

SOURCE Eli Lilly and Company

Americká farmaceutická společnost Eli Lilly dosáhla významného milníku v rozšiřování svého portfolia léků na obezitu. Britský regulátor schválil její přípravek Foundayo (orforglipron) ve formě pilulky pro léčbu obezity a diabetu 2. typu. Jde o první schválení tohoto léku mimo Spojené státy a zároveň o druhý perorální lék v Evropě – o dva měsíce napřed je dánský Novo Nordisk se svým konkurenčním lékem Wegovy.

Britská agentura pro regulaci léčiv a zdravotnických produktů v pondělí oznámila, že orforglipron, prodávaný pod názvem Foundayo, bude k dispozici pro řízení hmotnosti a léčbu diabetu 2. typu na předpis.

Schválení regulátorem však ještě automaticky neznamená širokou dostupnost v rámci britského veřejného zdravotnictví, upozorňuje server CNBC. Léky totiž nyní čeká na posouzení ze strany National Institute for Health and Care Excellence (NICE), který bude hodnotit jeho nákladovou efektivitu před případným zařazením do systému National Health Service (NHS).

Novo Nordisk mezitím využívá svého časového náskoku na trhu a prezentuje tabletovou verzi Wegovy jako nejúčinnější dostupnou perorální možnost pro redukci tělesné hmotnosti.

Eli Lilly naopak zdůrazňuje praktičnost svého přípravku. Foundayo je malomolekulární léčivo, které lze podle firmy užívat bez zvláštních omezení týkajících se jídla či nápojů. To je jeden z hlavních rozdílů oproti tabletové formě Wegovy. Tu musí pacienti užívat ráno nalačno, zapít malým množstvím vody a následně minimálně půl hodiny nejíst ani nepít.

NEPŘEHLÉDNĚTE: Eli Lilly vs. Novo Nordisk: Revoluce v léčbě obezity je podle Kunové teprve na začátku

Patria Podcasts · Eli Lilly vs. Novo Nordisk: Revoluce v léčbě obezity je podle Kunové teprve na začátku" target="_blank" style="color: #cccccc; text-decoration: none;">ROZHOVORY: Eli Lilly vs. Novo Nordisk: Revoluce v léčbě obezity je podle Kunové teprve na začátku

Přestože Foundayo vstoupilo na americký trh již v dubnu, jeho komerční rozjezd zatím zaostává za výsledky konkurenčního přípravku od Novo Nordisku. Generální ředitel Eli Lilly David Ricks v dubnu uvedl, že pomalejší adopce souvisí především s tím, že jde o zcela nový lék, který si teprve buduje pozici mezi lékaři a pacienty.

Výhodou Wegovy je naopak skutečnost, že využívá již známou účinnou látku semaglutid, kterou obsahují injekční verze léku na hubnutí. Díky tomu má perorální Wegovy podle analytiků i lékařské komunity určitou výhodu v povědomí trhu.

Foundayo vygenerovalo v USA ve druhém čtvrtletí tržby ve výši 98 milionů dolarů. Obě společnosti přitom tvrdí, že nástup tabletových forem nerozšiřuje pouze nabídku pro stávající uživatele injekčních léčiv, ale přináší na trh zcela nové skupiny pacientů, kteří by o injekční terapii jinak neměli zájem.

"Vidím budoucnost, kdy bude tento trh do značné míry trh s pilulkami," řekl nedávno pro CNBC generální ředitel Novo Mike Doustdar. Současně odmítl obavy, že zájem o tabletovou verzi Wegovy slábne poté, co její prodeje ve druhém čtvrtletí mírně zaostaly za některými analytickými odhady.

Podle jeho slov naznačují první týdny po uvedení na britský trh velmi silnou poptávku. Za první tři týdny dostupnosti ve Velké Británii mělo podle odhadů léčbu tabletovým Wegovy zahájit přibližně 300 tisíc pacientů.

Zdroj foto: Eli Lilly

Eli Lilly (LLY -0.52%) is already the leader in the weight-loss market thanks to Zepbound, the best-selling medication in this space. However, the drugmaker has been making headlines with its next-gen anti-obesity medicine, retatrutide. Eli Lilly recently announced that it will request approval from the U.S. Food and Drug Administration for retatrutide in the first quarter of 2027. This new product could help Eli Lilly extend its lead over its biggest competitor in this space, Novo Nordisk (NVO +2.81%). Here's the rundown.

Best-in-class efficacy In a phase 3 study, retatrutide posted an average weight loss of up to 28.3% over 80 weeks. Not only is that substantially better than anything Novo Nordisk's Wegovy has ever produced in clinical trials, but it is also, as some have pointed out, comparable to what we typically see in bariatric surgeries.

Image source: The Motley Fool.

No other weight-loss medicine has shown efficacy that beats or even matches what retatrutide has demonstrated, not even Zepbound. True, it's always hard to compare across studies. But retatrutide's mechanism of action -- it mimics the actions of three gut hormones, providing a triple-pathway approach to addressing obesity -- already suggests it may be more effective than approved drugs. Retatrutide also led to significant weight loss in patients with diabetes, who typically have a harder time dropping pounds.

Beyond weight loss and diabetes, it is being investigated across obstructive sleep apnea, chronic back pain, and metabolic dysfunction-associated steatotic liver disease. This medicine could not only attract patients with very high BMIs (Body Mass Index) for whom current weight-loss options aren't aggressive enough, but its potential approval in other lucrative indications also makes it highly promising. Retatrutide won't simply cannibalize Zepbound's sales. It will help Eli Lilly expand the weight-loss market and solidify its lead.

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Meanwhile, Eli Lilly's financial results continue to impress, largely because of its work in this area. In the second quarter, the company's revenue increased by 48% year over year to $23 billion, while its adjusted earnings per share came in at $8.38, 33% higher than the year-ago period. Eli Lilly's results beat expectations, sending the stock slightly higher after it released its quarterly update. The company should maintain solid financial results over the medium term, especially with products like retatrutide in the pipeline. And beyond its core therapeutic area, Eli Lilly is making significant strides in other areas.

The company has expanded and diversified its pipeline and should see meaningful progress in other markets, including oncology and immunology, over the next few years. Here's the bottom line: Eli Lilly does not intend to relinquish its lead in the weight-loss space, and it also wants to dominate other fields. The company's continued success could power solid returns over the medium term. Novo Nordisk, as well as other pharmaceutical giants looking to challenge Eli Lilly, have been warned.

Eli Lilly and Company (LLY) Q2 2026 Earnings Call August 5, 2026 10:00 AM EDT

Company Participants

Mike Czapar - Director of Investor Relations
David Ricks - Chairman & CEO
Lucas Montarce - Executive VP & CFO
Daniel Skovronsky - Chief Scientific & Product Officer and President of Lilly Research Laboratories
Ilya Yuffa - Executive VP and President of Lilly USA & Global Customer Capabilities
Patrik Jonsson - Executive VP & President of Lilly International
Kenneth Custer - Executive VP & President of Lilly Cardiometabolic Health
Jacob Van Naarden - Executive VP, President of Lilly Oncology & Head of Corporate Business Development

Conference Call Participants

Seamus Fernandez - Guggenheim Securities, LLC, Research Division
Asad Haider - Goldman Sachs Group, Inc., Research Division
Courtney Breen - Bernstein Institutional Services LLC, Research Division
Christopher Schott - JPMorgan Chase & Co, Research Division
Geoffrey Meacham - Citigroup Inc., Research Division
Mohit Bansal - Wells Fargo Securities, LLC, Research Division
Akash Tewari - Jefferies LLC, Research Division
Michael Yee - UBS Investment Bank, Research Division
Terence Flynn - Morgan Stanley, Research Division
Umer Raffat - Evercore ISI Institutional Equities, Research Division
Jason Gerberry - BofA Securities, Research Division
Louise Chen - Scotiabank Global Banking and Markets, Research Division
David Risinger - Leerink Partners LLC, Research Division

Presentation

Operator

Ladies and gentlemen, thank you for standing by, and welcome to the Lilly Q2 2026 Earnings Conference Call.

[Operator Instructions]

I would now like to turn the conference over to your host, Mike Czapar, Senior Vice President of Investor Relations. Please go ahead.

Mike Czapar
Director of Investor Relations

Good morning. Thank you for joining us for Eli Lilly and Company's Q2 2026 Earnings Call. I'm Mike Czapar, Senior Vice President of Investor Relations. Joining me on today's call are Dave Ricks, Lilly's Chair and CEO; Lucas Montarce, Chief Financial Officer; Dr. Dan Skovronsky, Chief Scientific and Product Officer; Adrienne Brown, President of Lilly Immunology; Dr. Carole Ho, President of Lilly Neuroscience; Ilya Yuffa, President of Lilly USA and Global

5.8.2026 13:25, LLY

Farmaceutický gigant Eli Lilly zveřejnil výsledky za druhý kvartál roku 2026. Tržby díky lékům Mounjaro a Zepbound meziročně vzrostly téměř o polovinu a o více než 2 mld. USD překonaly odhady analytiků. Společnost zvýšila celoroční výhled tržeb o 3 mld. USD, horní hranici výhledu zisku na akcii však snížily odpisy nakoupeného výzkumu a vývoje.

Výsledky společnosti Eli Lilly (LLY) za 2Q 2026   2Q 2026 Konsensus 2Q 2026 2Q 2025 Tržby (mld. USD) 22,97 20,59 15,56 Čistý zisk (mld. USD) 7,10 -- 5,66 Očištěný zisk na akcii (EPS, USD/akcie) 8,38 -- 6,31 Výsledky Tržby společnosti ve 2Q meziročně vzrostly o 48 % na 22,97 mld. USD, a to díky 60% nárůstu objemu prodejů, což bylo částečně kompenzováno 13% poklesem realizovaných cen. Konsensus počítal s 20,59 mld. USD.

Tržby ve Spojených státech meziročně vzrostly o 33 % na 14,4 mld. USD při 37% nárůstu objemu a 3% poklesu realizovaných cen. Tržby mimo Spojené státy vzrostly o 80 % na 8,6 mld. USD, objem prodejů stoupl o 113 %, realizované ceny naopak klesly o 36 % především kvůli zařazení léku Mounjaro na čínský seznam hrazených léčiv (NRDL).

Největší podíl na tržbách zaujímá lék na cukrovku Mounjaro, kterému tržby meziročně vzrostly o 91 % na 9,94 mld. USD, výrazně nad očekáváním 8,83 mld. USD. V USA přidal 45 % na 4,8 mld. USD, mimo USA se tržby zvýšily o 172 % na 5,2 mld. USD.

Vývoj tržeb léku na cukrovku Mounjaro, zdroj: Eli Lilly

Tržby z léku na hubnutí Zepbound meziročně vzrostly o 46 % na 4,93 mld. USD, nad konsensem 4,64 mld. USD. V USA tržby stouply o 44 % na 4,9 mld. USD, tažené silnou poptávkou, částečně kompenzovanou nižšími realizovanými cenami.

Vývoj tržeb léku na hubnutí Zepbound, zdroj: Eli Lilly

Nově uvedená pilulka na hubnutí Foundayo (orforglipron) přispěla ve svém prvním plném kvartále tržbami 98 mil. USD, mírně nad očekáváním 92 mil. USD.

Lék Verzenio určený i pro léčbu rakoviny prsu se podílel na tržbách 1,47 mld. USD, meziročně o 1 % méně a mírně pod konsensem 1,5 mld. USD. Lék Trulicity vykázal tržby 1,22 mld. USD oproti očekávaným 868,8 mil. USD, Taltz 856 mil. USD (konsensus 854,7 mil. USD) a Humalog 410 mil. USD (konsensus 448,5 mil. USD).

Očištěná hrubá marže dosáhla 86,3 %, meziročně o 1,3 p. b. více, a to díky nižším výrobním nákladům a příznivému mixu produktů.

Výdaje na výzkum a vývoj se meziročně zvýšily o 14 % na 3,82 mld. USD, očekávalo se 4,05 mld. USD. Marketingové, prodejní a administrativní náklady vzrostly o 25 % na 3,43 mld. USD.

Společnost zaúčtovala odpisy nakoupeného výzkumu a vývoje (IPR&D) ve výši 2,78 mld. USD, a to především v souvislosti s akvizicemi společností Orna Therapeutics a Ajax Therapeutics. V přepočtu na akcii šlo o 3,03 USD, které jsou zahrnuty jak ve vykázaném, tak v očištěném zisku na akcii.

Vývoj tržního podílu léků na cukrovku a hubnutí v USA

Vývoj amerického trhu s inkretinovými analogy, zdroj: Eli Lilly

Výhled Eli Lilly v roce 2026 očekává:

Tržby v rozmezí 85 až 87 mld. USD, dříve projektovala 82 až 85 mld. USD. Tržní konsensus činil 85,31 mld. USD. Očištěný zisk na akcii ve výši 35,50 až 36,50 USD, dříve společnost odhadovala 35,50 až 37,00 USD. Výhled zisku byl v polovině pásma zvýšen o 2,78 USD díky silnému provoznímu růstu, to však bylo více než vykompenzováno 3,03 USD z akvizičních odpisů nakoupeného výzkumu a vývoje ve 2Q. Návrat kapitálu akcionářům Společnost v průběhu první poloviny roku navrátila svým akcionářům 3,1 mld. USD v dividendách a 4,0 mld. USD ve zpětných odkupech akcií.

Komentář CEO „Dynamika Lilly pokračuje, doručili jsme 48% růst tržeb a zvýšili jsme celoroční výhled," uvedl generální ředitel David A. Ricks. „Lilly zároveň staví na budoucnost. S naším lékem na hubnutí nové generace retatrutidem a kompletním klinickým balíkem v ruce, s novými výrobními kapacitami a s aktivy vstupujícími do našeho portfolia skrze akvizice nebyla budoucnost Lilly po 150 letech nikdy jasnější," dodal Ricks.

Akcie Eli Lilly Akcie Eli Lilly (LLY) v předburzovní fázi obchodování posilují o 6,21 % na 1 185 USD.

Akcie Eli Lilly (LLY) před výsledky na 1 115,68 USD Ukazatel   Ukazatel   Kapitalizace (mld. USD) 1050,7 P/E 45,8 Vývoj za letošní rok (%) +3,8 Očekávané P/E 33,2 52týdenní minimum (USD) 623,8 Prům. cílová cena (USD) 1282 52týdenní maximum (USD) 1249,45 Dividendový výnos (%) 0,6 Zdroj: Eli Lilly, Bloomberg

Michal Bárta, Fio banka, a.s.

HIGHLIGHTS Amplia has executed a Clinical Trial Collaboration & Supply Agreement (CTCSA) with Eli Lilly & Company, to evaluate the Company's investigational FAK inhibitor narmafotinib in combination with Lilly's late‑stage investigational next generation KRAS inhibitor olomorasib The collaboration is underpinned by narmafotinib's growing base of clinical evidence and a strong scientific rationale that FAK activation is a key driver of resistance to KRAS G12C inhibitors The collaboration further extends narmafotinib beyond pancreatic and ovarian cancer into NSCLC, broadening Amplia's clinical footprint and addressable opportunity Melbourne, Australia, Aug. 04, 2026 (GLOBE NEWSWIRE) -- Amplia Therapeutics Limited (ASX:ATX; OTCQB:INNMF), (“Amplia” or the “Company”), announces that it has entered into a Clinical Trial Collaboration and Supply Agreement (“CTCSA”) with Eli Lilly & Company (“Lilly”), to evaluate the combination of Amplia's investigational FAK inhibitor, narmafotinib, with Lilly's investigational KRAS G12C inhibitor, olomorasib. The Phase 1b/2b clinical trial will evaluate the safety and efficacy of this novel targeted therapy combination as a second line treatment in patients with advanced stage non-small cell lung cancer (NSCLC).

SummaryCompaniesAnalysts say Novo could lift full-year guidanceInvestors look for signs of sustainable turnaroundU.S. obesity market could be worth $100 bln by end of decadeNovo Nordisk reports Q2 earnings on August 5Novo faces headwinds to expand beyond obesity, diabetesLONDON, Aug 3 - Novo Nordisk (NOVOb.CO), opens new tab investors have found little cause for optimism during a bruising two-year period of profit ​warnings, leadership upheaval and a sliding share price as rival Eli Lilly (LLY.N), opens new tab streaked ahead. Now they may have reason for hope.

Despite Novo having lost ground in ‌injectable GLP-1s in recent years, the Danish obesity drugmaker is getting a boost from its new Wegovy weight-loss pill that is holding onto its lead against Lilly's more recently launched Foundayo.

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The pair are battling for dominance in the obesity drug market, which analysts expect to be worth more than $100 billion by the end of the decade in the United States alone.

Novo's shares have climbed some 35% from a March low, with ​the company looking to go on the offensive - including with a divisive court case against Lilly over what it calls misleading marketing in the vital U.S. market.

"Novo is a ​different Novo today than a year ago," said Morten Gregersen, chief portfolio manager at Danish asset manager Formuepleje, a Novo shareholder. "They're much more ⁠consumer-oriented and they've become much more aggressive."

NOVO VS LILLY: COMEBACK STORY?Analysts and shareholders will look for clues from management that Novo's turnaround is durable when the company reports second-quarter results ​on August 5, and that it can keep pace with Lilly over the longer term.

The U.S. drugmaker reports results on the same day, and analysts broadly expect robust sales of its blockbuster ​weight-loss and diabetes injections, Mounjaro and Zepbound.

Recent IQVIA prescription data suggests demand for oral Wegovy remains stronger than analysts initially expected and well above Lilly's Foundayo, although Barclays noted the figures understate total Foundayo demand because they exclude certain distribution channels.

"One of the concerns had been that orforglipron from Lilly was going to come along and make things a lot tougher for oral Wegovy," said Barclays analyst James Gordon, using ​the generic name for Foundayo. "But so far... orforglipron doesn't really seem to have impacted the product."

ARE WE AT AN INFLECTION POINT?Novo spent 2025 on the defensive as mounting U.S. pricing pressure ​and competition led to four guidance cuts and wiped billions from its market value. The company replaced its CEO and launched a restructuring that cut 9,000 jobs.

This year, Novo has regained some momentum with ‌oral Wegovy, ⁠which it launched in the U.S. in January, firing hopes that the worst may be behind it.

The pill, however, has yet to alter the broader picture. After overtaking Wegovy injections last year, Lilly's Zepbound has maintained a commanding lead in the U.S. market, with weekly prescriptions more than double those of Novo's drug in recent months. Novo's ability to broaden beyond obesity and diabetes is also under scrutiny after a recent heart disease drug trial fail.

"The real question is...when is the inflection point? Which particular quarter looks like a trough, and then do we see ​growth back from that point?" said HSBC analyst ​Rajesh Kumar.

He said expectations for 2026 had ⁠improved, though that partly reflected generic competition for Wegovy arriving later than previously expected, pushing some of the pressure into 2027 rather than eliminating it.

NOVO NORDISK LOOKS TO 'MAKE SOME NOISE'Novo and Lilly's rivalry has spilled into the courts. Last month, Novo sued Lilly in a U.S. federal ​court, accusing it of false advertising for using comparisons of efficacy that omit its newer, higher-dose Wegovy. Lilly has denied the allegations.

BMO ​analyst Evan Seigerman said that ⁠Novo was being more "aggressive" and trying to "make some noise", even if the suit was unlikely to make a huge difference.

"It's kind of like using a lawsuit as a bit of publicity to shift opinions," he said.

Others like Sven Borho, managing partner at Orbimed, said that the suit would struggle to change the perception in the U.S. that Zepbound was superior to Wegovy. Instead, he said ⁠Novo needed to ​strike deals in the obesity space to persuade the market that they can compete with Lilly long term.

Analysts ​said Novo could edge up its full-year outlook, though the main positive may be a lack of crisis and drama.

"Even if there is no guidance raise, it will be comforting to know that the company has left the era of ​profit warnings," said Markus Manns, portfolio manager at Union Investment.

Reporting by Maggie Fick and Bhanvi Satija; Additional reporting by Stine Jacobsen and Michael Erman; Editing by Adam Jourdan and Kirsten Donovan

Our Standards: The Thomson Reuters Trust Principles., opens new tab

Maggie is a Britain-based reporter covering the European pharmaceuticals industry with a global perspective. In 2023, Maggie's coverage of Danish drugmaker Novo Nordisk and its race to increase production of its new weight-loss drug helped the Health & Pharma team win a Reuters Journalists of the Year award in the Beat Coverage of the Year category. Since November 2023, she has also been participating in Reuters coverage related to the Israel-Hamas war. Previously based in Nairobi and Cairo for Reuters and in Lagos for the Financial Times, Maggie got her start in journalism in 2010 as a freelancer for The Associated Press in South Sudan.

Bhanvi is a London-based reporter covering European pharmaceutical companies and the healthcare industry. She previously covered U.S. health and pharma firms, with a focus on the new weight loss drugs that are transforming the obesity treatment space. Her coverage includes a trend piece on the underuse of their weight-loss drugs among men, increased interest in therapies being developed for preservation of lean mass, and a scoop on gene therapy maker Sarepta defying an FDA order to stop shipping its muscular dystrophy treatment.

The Eli Lilly logo appears on one of the company’s offices in San Diego, California, U.S., November 21, 2025. REUTERS/Mike Blake/File Photo Purchase Licensing Rights, opens new tab

CompaniesJuly 30 (Reuters) - Drugmaker Eli Lilly (LLY.N), opens new tab and privately held contract manufacturer Resilience will invest $750 million to expand pharmaceutical manufacturing ​capacity in the U.S. and strengthen the domestic ‌medicine supply chain, Resilience said on Thursday.

Global drugmakers have been ramping up U.S. manufacturing since last year ​and stockpiling inventory as President Donald Trump's administration moves ​to impose 100% tariffs on branded drugs ⁠unless companies cut prices or make medicines ​domestically.

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Resilience said the investment will increase the ​production of critical medicines and create 400 new high-skilled jobs in the Cincinnati, Ohio region.

The company's manufacturing operations ​in the region will now include Lilly's ​KwikPen injectable device for treating diabetes and obesity, it added.

The ‌multi-year ⁠manufacturing partnership between Lilly and Resilience, which began in 2023, has already produced more than 150 million doses of medicines for U.S. ​patients in ​vial and ⁠pre-filled syringe formats, according to Resilience.

Lilly's manufacturing head Edgardo Hernandez said the ​partnership reflects the drugmaker's efforts to ​meet ⁠rising demand for its medicines.

Lilly's U.S. capital expansion commitments since 2020 total more than $55 billion and ⁠it plans ​to break ground on several ​of its recently announced U.S. manufacturing sites this year.

Reporting by ​Christy Santhosh in Bengaluru; Editing by Jonathan Ananda

Our Standards: The Thomson Reuters Trust Principles., opens new tab

Eli Lilly (LLY +0.30%) brought in $19.8 billion in revenue in the first quarter of 2026, and most of it can be traced back to the medicines everyone has heard of by now: tirzepatide, sold as Mounjaro for type 2 diabetes and Zepbound for obesity. Its weight loss medicines, and the ones behind them in the pipeline, will likely carry the top line for years, though leadership in that market is never guaranteed.

But that didn't stop it from taking steps to expand its pipeline into other areas. On July 16, Lilly agreed to buy AtaiBeckley (ATAI +0.00%) for $2.8 billion, plus up to $1 billion more in potential milestone payments. This and other recent acquisitions are another reason to buy the stock, so let's examine it in more detail.

Image source: The Motley Fool.

Lilly's mental health portfolio is getting deeper Buying Atai isn't Lilly's only recent step into the mental health space.

Lilly was already running a phase 3 psychiatry program built on similar biology as its weight-loss drugs. Brenipatide, a dual GLP-1 (glucagon-like peptide-1) and GIP (glucose-dependent insulinotropic polypeptide) receptor agonist, is in late-stage testing for major depressive disorder (MDD), and it's additionally in development for alcohol use disorder.

So even as the company diversifies its pipeline with bolt-on acquisitions and new investment in research and development (R&D), it's also repurposing assets with the goal of building out its portfolio.

AtaiBeckley's lead asset, BPL-003, is an intranasal formulation of the fast-acting psychedelic 5-MeO-DMT, and it's now in phase 3 trials for treatment-resistant depression (TRD), meaning depression that hasn't responded favorably to at least two prior antidepressants. It holds a Breakthrough Therapy designation from the U.S. Food and Drug Administration, but the phase 3 data won't be available until early 2029.

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Another of the biotech's programs approaching maturity is VLS-01, a dissolving film applied inside the cheek that delivers the psychedelic DMT. Its phase 2b trial in treatment-resistant depression is scheduled to release data in the fourth quarter of this year, and management plans to advance it into a phase 3 trial in major depressive disorder.

These new programs are an insurance policy One thing to appreciate about the Atai acquisition is that it probably won't be a big earner for Lilly in comparison to the rest of its portfolio, even if it's a bullish factor over the long term.

The markets that Atai's candidates are targeting are simply not that big. For instance, Johnson & Johnson's esketamine nasal spray, Spravato, which is approved for treating treatment-resistant depression, brought in $584 million in sales globally in the second quarter of 2026, with peak sales that Jefferies puts at as much as $5 billion a year. So even a category-leading depression drug at full stride would be a small slice of a company guiding for $82 billion to $85 billion in revenue this year. That constraint could ultimately change if whatever Lilly launches with Atai can be developed into a relevant treatment for a larger market than it's currently targeting, but it'd take years at best.

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Nonetheless, AtaiBeckley is Lilly's 12th acquisition of this year, and when the purchase closes, it'll become the first leading late-clinical-stage psychedelic stock to be acquired by a leading pharma company.

No single drug that is commercialized as a result of that list of purchases is going to significantly push Lilly's massive top line on its own overnight, but together, and perhaps with some additional R&D investment into expanding the indications they're approved for, they could, if execution goes Lilly's way. And, like Lilly's rapidly expanding pipeline and its blockbuster weight loss medicines, the acquisition is a reason to buy the stock.

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S&P 500 Stock Rockets Late On Earnings As Google Boosts Capex Eli Lilly (LLY) said Thursday it will delay filing for Food and Drug Administration approval of its next-gen weight-loss drug, retatrutide, until the first quarter. The delay is a "VERY GOOD thing," Evercore ISI analyst Umer Raffat said in a report. It will give the obesity kingpin more time to complete a bigger Chemistry, Manufacturing and Controls package for the…

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Novo Nordisk podal ve Spojených státech žalobu na svého hlavního konkurenta Eli Lilly. Dánská firma tvrdí, že reklamní kampaně propagující přípravky Zepbound a Mounjaro uvádějí spotřebitele v omyl tím, že prezentují neúplné a zastaralé údaje o účinnosti konkurenčních léků Wegovy a Ozempic od Novo Nordisku. Informoval o tom server CNBC.

Zastaralé klinické studie ohledně porovnání nejvyšších dávek léků Lilly s nižšími dávkami léků Novo „vedou k nevyhnutelnému závěru, že léky Lilly jsou lepší než léky od Novo, a to není přesné“, sdělil CNBC John Kuckelman, hlavní právní zástupce skupiny Novo, jež tvrdí, že takové srovnání neodráží současný stav trhu a dostupných klinických dat.

Novo Nordisk v žalobě požaduje, aby soud Eli Lilly zakázal další šíření sporných reklam a zároveň nařídil zveřejnění opravných sdělení. Kromě toho se firma domáhá finanční náhrady škody, jejíž výše zatím nebyla specifikována.

Dánská společnost prý zaslala svému konkurentovi formální výzvu k ukončení reklamních kampaní už v dubnu, avšak bez výsledku. Pokud Lilly reklamy nestáhne dobrovolně, chce Novo v následujících dnech usilovat také o předběžné opatření, které by jejich vysílání zastavilo ještě před konečným rozhodnutím soudu.

Dánské firmě vadí zejména to, že reklamy konkurenta nezohledňují nově schválenou vysokodávkovou variantu léku Wegovy, která byla uvedena na trh letos na jaře. Podle Novo právě tato verze přináší výsledky v redukci hmotnosti, které jsou mnohem bližší účinkům Zepbound od Lilly.

„Reklamní sdělení vedou spotřebitele k závěru, že přípravky Eli Lilly jsou jednoznačně účinnější než naše léky. Domníváme se, že takový závěr není podložen aktuálními důkazy,“ stojí v žalobě.

V té je konkrétně zmíněna televizní reklama, která přímo srovnává Zepbound a Wegovy. Ve spotu zaznívá, že pacienti užívající Zepbound ztrácejí v průměru přibližně 50 liber (22,7 kg) tělesné hmotnosti, zatímco u Wegovy to je zhruba 33 liber (15 kg). Tato čísla vycházejí z klinického srovnání nejvyšších dávek přípravku Zepbound s dávkami Wegovy 1,7 mg a 2,4 mg.

Podle Novo Nordisk však novější studie ukazují, že vyšší dávka Wegovy 7,2 mg vede v průměru k úbytku hmotnosti okolo 47 liber (21,3 kg), což se podle firmy pohybuje na srovnatelné úrovni s nejnovějšími výsledky dosahovanými přípravkem Zepbound.

Dánský výrobce zároveň tvrdí, že existence této vyšší dávky je v reklamních materiálech zmíněna pouze v obtížně čitelné poznámce pod čarou, která podle něj spotřebitelům neposkytuje dostatečné informace o aktuální účinnosti léčby, píše CNBC.

Přímá studie neexistuje

Dalším argumentem Novo Nordisku je skutečnost, že dosud nebyla provedena přímá klinická studie, která by porovnávala nejvyšší komerčně dostupné dávky Wegovy a Zepbound. Podle žaloby proto Eli Lilly nemá dostatečný základ pro kategorická tvrzení o nadřazenosti svého přípravku.

„I když to bylo možné říci předtím, než byl Wegovy dostupný i v dávce 7,2 miligramu, tak dnes už to není přesné. Myslíme si, že mají právní povinnost, ale ještě důležitější je, že mají povinnost vůči pacientům sdílet přesné informace,“ dodal Kuckelman.

Zdroj foto: Novo Nordisk

AtaiBeckley's lead program, BPL-003, is designed to provide durable relief from treatment-resistant depression

Acquisition expands Lilly's neuroscience pipeline to address some of the most challenging conditions in mental health

, /PRNewswire/ -- Eli Lilly and Company (NYSE: LLY) and AtaiBeckley Inc. (Nasdaq: ATAI), a clinical-stage biopharmaceutical company developing innovative therapeutics for mental health conditions, today announced a definitive agreement for Lilly to acquire AtaiBeckley.

AtaiBeckley is advancing a pipeline of rapid-acting neuroplastogens, including multiple clinical-stage programs and a discovery pipeline of next-generation compounds. The lead asset, BPL-003 (mebufotenin benzoate), is a synthetic form of 5-MeO-DMT administered intranasally for treatment-resistant depression, which affects millions of people in the United States.

Emerging research indicates that treatment-resistant depression and other serious mental health conditions may involve a loss of synaptic plasticity, the brain's ability to form and strengthen connections in regions critical to mood regulation. AtaiBeckley's therapies are designed to restore synaptic connectivity and aim to promote the growth of new neural connections, offering a distinct mechanism from conventional antidepressants that primarily target neurotransmitter levels.

"Treatment-resistant depression persists even after multiple treatments have failed. Millions of people are still searching for relief and desperately need a therapy that works," said Carole Ho, executive vice president and president, Lilly Neuroscience. "Advancing AtaiBeckley's investigational therapies gives us a real chance to change that."

In a Phase 2b study, BPL-003 demonstrated rapid and durable reductions in depressive symptoms following an in-clinic visit lasting approximately two hours on average, with beneficial effects persisting for months. BPL-003 has been granted Breakthrough Therapy Designation by the U.S. Food and Drug Administration and has initiated Phase 3 activities. VLS-01, the second most advanced program of the pipeline, is a buccal film formulation of DMT advancing in an ongoing Phase 2b study.

"Across our portfolio, we're seeking to demonstrate that psychiatric illness is treatable at its biological root, not just its symptoms," said Srinivas Rao, co-founder and chief executive officer of AtaiBeckley. "Lilly's expertise and reach are expected to accelerate that work for people whose conditions have not responded to existing treatments."

"From Atai's founding, our mission has been to bring transformative mental health treatments to the patients who need them most. Joining Lilly gives this pipeline, and the patients waiting for it, the benefit of the resources and scale Lilly has to potentially advance therapies faster than we could alone. I am confident this transaction represents the best path forward for patients and shareholders," said Christian Angermayer, founder, largest shareholder, and chairman of the board, AtaiBeckley.

Under the terms of the agreement, Lilly will acquire all outstanding shares of AtaiBeckley common stock for $6.75 per share in cash upon closing; plus up to $2.50 per share in the form of a Contingent Value Right (CVR) entitling the holder to additional cash payments upon achievement of specified development and regulatory milestones related to the BPL-003 and VLS-01 programs as follows: (a) $1.00 per share upon initiation of a Phase 3 clinical trial of VLS-01 prior to the fourth anniversary of closing; (b) $0.50 per share upon U.S. regulatory approval and DEA rescheduling of BPL-003 prior to the fifth anniversary of closing; and (c) $1.00 per share upon U.S. regulatory approval and DEA rescheduling of VLS-01 prior to the seventh anniversary of closing. The upfront cash consideration represents an aggregate equity value of approximately $2.8 billion and the CVR represents an additional potential aggregate equity value of approximately $1.0 billion. There can be no assurance that any payments will be made with respect to the CVR.

The transaction is not subject to any financing condition and is expected to close in the third quarter, subject to approval by AtaiBeckley stockholders and satisfaction of other customary closing conditions, including regulatory approvals. The purchase price payable at closing represents a premium of approximately 40% to the 30-day volume-weighted average trading price of AtaiBeckley's common stock ended on July 15, 2026. The boards of directors of both companies have approved the transaction.

To demonstrate their commitment to the transaction, Apeiron Investment Group, Ltd and all directors and officers of AtaiBeckley have signed voting and support agreements pursuant to which each has agreed to vote to approve the transaction. The shares subject to the voting agreements represent a total of approximately 15% of AtaiBeckley's outstanding common stock.

Lilly will determine the accounting treatment of this transaction in accordance with Generally Accepted Accounting Principles (GAAP) upon closing. This transaction will thereafter be reflected in Lilly's financial results and financial guidance.

Goldman Sachs is acting as exclusive financial advisor and Ropes & Gray is acting as legal counsel to Lilly. Moelis & Company LLC and Centerview Partners LLC are acting as financial advisors and Latham & Watkins is acting as legal counsel to AtaiBeckley. Citi also provided financial advice to the AtaiBeckley Board of Directors in the transaction.

About AtaiBeckley
AtaiBeckley is a clinical-stage biotechnology company on a mission to transform patient outcomes by developing rapid-acting, durable and convenient mental health treatments. AtaiBeckley's pipeline of novel therapies includes BPL-003 (mebufotenin benzoate nasal spray) for treatment-resistant depression (TRD), VLS-01 (DMT buccal film) for TRD and EMP-01 ((R)-MDMA HCI) for social anxiety disorder. BPL-003 was granted Breakthrough Therapy Designation from the U.S. Food and Drug Administration and has initiated Phase 3 activities; VLS-01 and EMP-01 are in Phase 2 clinical development. The Company is also advancing a drug discovery program to identify novel, non-hallucinogenic 5-HT2AR agonists. These programs aim to create breakthroughs in mental health through transformative interventional psychiatry therapies that can integrate seamlessly into healthcare systems.

About Lilly
Lilly is a medicine company turning science into healing to make life better for people around the world. We've been pioneering life-changing discoveries for 150 years, and today our medicines help tens of millions of people across the globe. Harnessing the power of biotechnology, chemistry and genetic medicine, our scientists are urgently advancing new discoveries to solve some of the world's most significant health challenges: redefining diabetes care; treating obesity and curtailing its most devastating long-term effects; advancing the fight against Alzheimer's disease; providing solutions to some of the most debilitating immune system disorders; and transforming the most difficult-to-treat cancers into manageable diseases. With each step toward a healthier world, we're motivated by one thing: making life better for millions more people. That includes delivering innovative clinical trials that reflect the diversity of our world and working to ensure our medicines are accessible and affordable. To learn more, visit Lilly.com and Lilly.com/news, or follow us on Facebook, Instagram, and LinkedIn. F-LLY

Trademarks and Trade Names
All trademarks or trade names referred to in this press release are the property of the company, or, to the extent trademarks or trade names belonging to other companies are references in this press release, the property of their respective owners. Solely for convenience, the trademarks and trade names in this press release are referred to without the ® and ™ symbols, but such references should not be construed as any indicator that the company or, to the extent applicable, their respective owners will not assert, to the fullest extent under applicable law, the company's or their rights thereto. We do not intend the use or display of other companies' trademarks and trade names to imply a relationship with, or endorsement or sponsorship of us by, any other companies.

No Offer or Solicitation
This communication is for informational purposes only and is not intended to and does not constitute, or form part of, an offer, invitation or the solicitation of an offer or invitation to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of any securities, or the solicitation of any vote or approval in any jurisdiction, pursuant to the proposed transaction or otherwise, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable law.

Additional Information about the Acquisition and Where to Find It
AtaiBeckley plans to file a proxy statement (the "Proxy Statement") with the Securities and Exchange Commission (the "SEC") in connection with the solicitation of proxies to approve the agreement and plan of merger (the "Merger Agreement") relating to Lilly's proposed acquisition of AtaiBeckley (the "Merger"). Promptly after filing the definitive Proxy Statement with the SEC, AtaiBeckley will mail the definitive Proxy Statement and a proxy card to each stockholder entitled to vote at the special meeting to consider the adoption of the Merger Agreement. Stockholders are urged to read the proxy statement (including any amendments or supplements thereto) and any other relevant documents that AtaiBeckley will file with the SEC when they become available because they will contain important information. Stockholders may obtain, free of charge, the preliminary and definitive versions of the Proxy Statement, any amendments or supplements thereto, and any other relevant documents filed by AtaiBeckley with the SEC in connection with the Merger at the SEC's website (http://www.sec.gov). Copies of AtaiBeckley's definitive Proxy Statement, any amendments or supplements thereto, and any other relevant documents filed by AtaiBeckley with the SEC in connection with the Merger will also be available, free of charge, at AtaiBeckley's investor relations website (https://ir.ataibeckley.com), or by writing to AtaiBeckley Inc., Attention: Investor Relations, 250 West 34th Street, New York, NY 10119.

Participants in the Solicitation
Under SEC rules, AtaiBeckley and certain of its directors, executive officers and other members of management and employees may be deemed to be participants in the solicitation of proxies from stockholders in connection with the Merger. Information about the directors and executive officers of AtaiBeckley and their ownership of AtaiBeckley's common stock is set forth in the definitive proxy statement for AtaiBeckley's 2026 Annual Meeting of Stockholders (the "2026 Proxy Statement"), which was filed with the SEC on April 22, 2026, including the sections captioned "Director Compensation," "Executive Employment Agreements" and "Security Ownership of Certain Beneficial Owners and Management," or its Annual Report on Form 10-K for the year ended December 31, 2025, which was filed with the SEC on March 6, 2026, and in other documents filed by AtaiBeckley with the SEC. To the extent holdings of such participants in AtaiBeckley's securities have changed since the amounts described in the 2026 Proxy Statement, such changes have been reflected on Forms 3 or Forms 4 filed with the SEC by AtaiBeckley's directors and executive officers. These documents can be obtained free of charge from the sources indicated below. Additional information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the Proxy Statement and other relevant materials to be filed with the SEC in respect of the Merger when they become available.

Cautionary Statement Regarding Forward-Looking Statements
This communication contains forward-looking statements that involve substantial risks and uncertainties, including statements regarding: the Merger; the prospective benefits of the Merger; the parties' ability to satisfy the conditions to the consummation of the Merger and the expected timetable for the Merger; the anticipated occurrence, manner and timing of the closing of the Merger; potential milestone payment amounts and terms pursuant to the CVRs; AtaiBeckley's product candidates and ongoing clinical and preclinical development; Lilly's development of programs targeting treatment-resistant depression and mental health conditions; and the accounting treatment of the potential acquisition under GAAP and its potential impact on Lilly's financial results and financial guidance. All statements other than statements of historical facts are forward-looking statements. The words "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "target," "will," "would" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Any forward-looking statements are based on current beliefs and expectations, and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in, or implied by, such forward-looking statements. These risks and uncertainties include, but are not limited to: the possibility that AtaiBeckley's shareholders may not approve the adoption of the Merger agreement; AtaiBeckley's receipt of any competing offers or acquisition proposals; a failure to (or delay in) receiving the required regulatory clearances for the Merger; a condition to closing of the Merger may not be satisfied (or waived); the ability of each party to consummate the Merger; the closing of the Merger might be delayed or not occur at all; the diversion of management time and attention from ongoing business operations and opportunities; the response of competitors to the Merger; the effect of the Merger and the public announcement of the Merger on AtaiBeckley's operations and its relationships with its suppliers, business partners, management and employees, including its ability to attract and retain key personnel; Lilly's ability to successfully integrate AtaiBeckley and execute on the continued development of AtaiBeckley's programs following the closing of the Merger; that all or any of the potential milestone payments pursuant to the CVRs will become payable on the terms described herein or at all; the outcome of any legal proceedings that could be instituted against the parties to the Merger; the risks inherent in drug research, development and commercialization; disruption in AtaiBeckley's plans and operations attributable to the Merger; changes in AtaiBeckley's business during the period between announcement and closing of the Merger; Lilly's evaluation of the accounting treatment of the potential acquisition and its potential impact on its financial results and financial guidance; the effects of the Merger (or the announcement thereof) on AtaiBeckley's stock price; relationships with key third parties or governmental entities; regulatory changes and developments; and the impact of global macroeconomic conditions, including trade and other global disputes and interruptions, including related to tariffs, trade protection measures, and similar restrictions. For further discussion of these and other risks and uncertainties, see Lilly's and AtaiBeckley's periodic reports filed with the SEC. There can be no assurance that the Merger will in fact be consummated. All forward-looking statements in this communication are based on information available to Lilly and AtaiBeckley as of the date of this communication. Lilly and AtaiBeckley each expressly disclaim any obligation to publicly update or revise the forward-looking statements, except as required by law.

SOURCE Eli Lilly and Company

Eli Lilly and Company (NYSE:LLY) shares are in the spotlight Monday as the company presents new data at the Alzheimer’s Association International Conference in London. Wall Street weighed in on the stock last week.

Eli Lilly stock is trading flat. What’s next for LLY stock? The AAIC PresentationEli Lilly is presenting 16 abstracts at the 2026 Alzheimer’s Association International Conference, running July 12-15 in London, with significant new data expected on its Alzheimer’s treatment Kisunla. The presentations could help clarify Kisunla’s competitive standing in a market where diagnosis bottlenecks, required scans, and monitoring requirements remain key hurdles to broader adoption.

Kisunla at a GlanceAnalyst Consensus & Recent Actions The stock carries a Buy rating with an average price target of $1293.73. Recent analyst moves include:

B of A Securities: Buy (Raises Target to $1334.00) (July 10) Truist Securities: Buy (Raises Target to $1370.00) (July 8) Morgan Stanley: Overweight (Raises Target to $1347.00) (July 8) Eli Lilly Shares Trade FlatLLY Price Action: At the time of publication, Eli Lilly shares are edging 0.01% higher at $1,188.75, according to data from Benzinga Pro.

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The Health Care Select Sector SPDR Fund (NYSEARCA:XLV) is the default healthcare allocation for millions of investors, and for good reason. XLV owns the entire S&P 500 healthcare complex in one ticker: insurers, device makers, biotech, and Big Pharma. It has returned 21.61% over the past year and 159.84% over ten years. If the reason for holding XLV is simply broad sector exposure, it does that job well. The reason to look past it is narrower: investors who bought XLV specifically to participate in the GLP-1 obesity boom are getting a heavily diluted version of that trade, and a small thematic fund, the LeaderShares Dr. Bill Grace Global Obesity ETF (NYSEARCA:OZEM) offers a more direct route.

Why XLV Waters Down the Obesity Trade The GLP-1 franchise is concentrated in two companies: Eli Lilly (NYSE:LLY | LLY Price Prediction) and Novo Nordisk. Lilly’s Q1 2026 results underline the scale. Revenue reached $19.8 billion, up 55.5% year over year, with Mounjaro at $8.66 billion (+125%) and Zepbound at $4.16 billion (+80%). Non-GAAP EPS came in at $8.55. CEO David Ricks said, “2026 is off to a strong start, we delivered 56% revenue growth… raised full-year revenue guidance by $2 billion.” The FDA has since approved Foundayo (orforglipron), the first oral GLP-1 pill with no food or water restrictions.

Lilly’s stock reflects this: shares are up 54.8% over the past year and 433.36% over five years, with a market cap of roughly $1.07 trillion. Yet within XLV, Lilly is the largest single position, accounting for roughly 16% of the fund. While that provides significant exposure, the remaining 84% of the fund is spread across insurers, device makers, and legacy pharma. For investors whose core thesis is specifically the metabolic-disease franchise, the heavy allocation to non-obesity segments can dampen the impact of Lilly’s specific trajectory.”

What OZEM Actually Owns If you’re looking at the obesity and GLP-1 supply chain, OZEM is the fund that comes up most often. According to its March 31, 2026, NPORT filing, Lilly is its largest holding at 16.10% of net assets, with Novo Nordisk right behind at 13.13%. Put those two together, and the two drugmakers that dominate the category represent 29.23% of the fund. For context, that is a materially higher single-theme weighting than either name individually delivers in XLV.

The remainder is a mix of GLP-1 developers and adjacencies: Viking Therapeutics at 5.29%, Zealand Pharma at 3.60%, Structure Therapeutics at 2.38%, plus Chinese biotech exposure through Innovent, Ascletis, and CSPC. Broader pharma names such as Pfizer (7.56%) and Amgen (3.94%) round out the book. The fund also carried a 12.89% cash position at the March filing, which can dampen performance during rapid market rallies, though it provides the manager with the liquidity needed to navigate the extreme volatility typical of small-cap biotech stocks.

The Tradeoffs Are Real The swap involves real tradeoffs. OZEM returned 32.8% over the past year, better than XLV’s 21.61%, but well behind Lilly’s 54.8%. Novo Nordisk shares fell 25.53% over the same period, and that weighting, combined with the cash drag and small-cap biotech volatility, explains the gap. Year-to-date, OZEM is actually down 1.18% while XLV is up 5.51%.

Other considerations: OZEM’s total net assets sit at just $51.4 million, which means wider bid-ask spreads and closure risk if inflows stall. Thematic ETFs also carry higher expense ratios than sector SPDRs, and Lilly itself faces pricing pressure, with realized prices down and Mounjaro added to China’s national reimbursement list. A prospectus review is warranted before committing capital.

How to Think About the Swap PineBridge’s 2026 equity outlook notes that “In 2026, we will see the expansion of obesity treatments to the broader population as lower-cost, easier-to-administer oral pill versions of the current injectable GLP-1s are introduced to the market.” That backdrop supports thematic exposure, but the vehicle matters.

For an investor whose XLV position is designed to capture the obesity story, three paths are available. Owning Lilly directly has delivered the cleanest exposure by a wide margin. A partial OZEM sleeve alongside XLV preserves diversification while raising the weighting to GLP-1 developers globally. Keeping XLV as-is remains defensible for anyone who wants the whole sector rather than one theme within it. In a taxable account, trimming XLV to fund the switch would realize gains that should be weighed against the incremental exposure, since XLV itself already owns Lilly. The decision hinges on how narrow the reader wants the bet to be.

Contact [email protected] for any questions or corrections.

Key Takeaways Eli Lilly reached a record high as a higher analyst price target reinforced long-term growth expectations. LLY's Mounjaro and Zepbound posted strong prescription growth, while oral Foundayo expands beyond injectables.LLY may benefit from broader Medicare access as the GLP-1 Bridge program improves affordability. Eli Lilly (LLY - Free Report) shares climbed to another all-time high of $1,235.56, pushing the drugmaker's market capitalization to roughly $1.13 trillion. The rally gained further support after a J.P. Morgan analyst reportedly raised the target price for LLY from $1,300 to $1,400, implying roughly 13% upside from current levels despite the stock already trading at record highs. The revision reflects growing confidence that Lilly's leadership in obesity and diabetes treatments can continue driving earnings growth over the long term.

The bullish outlook is underpinned by Eli Lilly’s continued dominance in the rapidly expanding GLP-1 market. Lilly's blockbuster therapies Mounjaro and Zepbound [for type II diabetes (T2D) and obesity, respectively] continue to post strong prescription growth. Its newly approved oral obesity therapy, Foundayo (orforglipron), extends Lilly's obesity franchise beyond injectable treatments following its U.S. launch. The drug adds another long-term growth lever for the company, with additional global regulatory filings expected to further expand its commercial opportunity.

The investment thesis also reflects confidence that the obesity market remains significantly underpenetrated. Lilly is well-positioned to benefit as awareness rises, treatment adoption accelerates and reimbursement improves across major markets. The company has steadily expanded its presence internationally while continuing to gain U.S. market share, supporting the view that its growth runway remains far from exhausted.

A major near-term catalyst is the Medicare GLP-1 Bridge program, which became effective on July 1. The program allows eligible Medicare Part D beneficiaries to obtain Lilly's Zepbound and Foundayo for $50 per month through the end of 2027, substantially improving affordability for millions of eligible patients who previously had limited access to obesity medicines. While the program also covers competing GLP-1 therapies, it expands the overall addressable market by lowering one of the biggest barriers to treatment.

The reimbursement expansion, however, does not hand Lilly an exclusive advantage. Rival company Novo Nordisk's (NVO - Free Report) Wegovy injection and oral formulation for obesity are also available under the same Medicare program at the identical monthly copay. Instead of reimbursement determining market winners, competition is increasingly shifting toward product differentiation. Lilly arguably enters this phase from a position of strength. Zepbound has demonstrated superior weight-loss efficacy versus Wegovy in head-to-head studies. At the same time, Foundayo offers a simpler once-daily oral dosing regimen without food or drink restrictions, potentially improving patient convenience and adherence.

After an exceptional rally, valuation naturally becomes a big consideration for investors. Yet, premium valuations often persist when earnings continue to outpace expectations. With multiple blockbuster GLP-1 products, an expanding obesity market, improving reimbursement and a growing international opportunity, Lilly's long-term fundamentals remain compelling. While near-term volatility is always possible after such a strong run, the latest price-target increase suggests many on Wall Street still see meaningful upside, indicating the stock may be expensive — but not necessarily overpriced — for investors with a long-term horizon.

Lilly's GLP-1 Franchise Faces Rising Competitive PressureEli Lilly and Novo Nordisk remain the two dominant players in the fast-growing obesity market. Competition is also intensifying in the oral obesity segment, where Lilly's Foundayo challenges Novo Nordisk's Wegovy pill. While the Wegovy pill has surpassed three million U.S. prescriptions within six months of launch, demonstrating strong early adoption, Foundayo's simpler dosing regimen could help it narrow the gap.

Smaller biotech firms, like Viking Therapeutics (VKTX - Free Report) and Structure Therapeutics (GPCR - Free Report) , are also advancing GLP-1–based therapies to challenge the incumbents. Viking Therapeutics’ dual GIPR/GLP-1 receptor agonist, VK2735, is being developed as both oral and subcutaneous formulations for the treatment of obesity. Viking Therapeutics plans to advance oral VK2735 into phase III development for obesity in the fourth quarter of 2026.

Structure Therapeutics’ phase II ACCESS study on its orally administered GLP-1 RA, aleniglipron, demonstrated significant weight loss across all doses. Structure Therapeutics expects to initiate the late-stage program of aleniglipron in obesity in the second half of 2026.

LLY’s Stock Price, Valuation and EstimatesShares of Eli Lilly have gained 15% year to date compared with the industry’s 11.8% growth. During the same time frame, the company has also outperformed the sector and the S&P 500, as seen in the chart below.

LLY Stock Price MovementImage Source: Zacks Investment Research

From a valuation standpoint, LLY stock is expensive. Going by the price/earnings ratio, the company’s shares currently trade at 30.70 forward earnings, higher than 18.77 for the industry. However, the stock is trading below its five-year mean of 34.56.

LLY Stock ValuationImage Source: Zacks Investment Research

Estimates for Eli Lilly’s 2026 earnings have deteriorated from $35.67 to $35.60 per share in the past 60 days, and estimates for 2027 earnings have improved from $44.48 to $44.58 per share over the same time frame.

LLY Estimate MovementImage Source: Zacks Investment Research

Eli Lilly currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Drug stocks got hit hard on Monday in what Jim Cramer called a “vicious rotation,” and the selloff looked like the usual crowded-trade unwind. Investors decided the Mounjaro story was played out. On Tuesday morning’s Mad Dash, Cramer walked through why he thinks that reading is wrong, and he had a fresh JPMorgan note flagging “potential upside from Mounjaro international” and U.S. obesity-market growth “much higher than people think” to lean on.

Eli Lilly (NYSE:LLY | LLY Price Prediction) closed Monday at $1,200.06 and was rallying 2.63% on Tuesday as Cramer defended it.

Why the Crowd Thinks It’s Over The played-out thesis has surface merit. Lilly is a $1.16 trillion market cap trading at 44x trailing earnings and 33x forward, the stock has run 59% in the past year, and realized prices on Mounjaro and Zepbound went down 13% last quarter as rebates and market-access deals bit into gross margin.

Reddit sentiment turned bearish from late June onward, with retail chatter dominated by presidential-stock-promotion drama and a “weight loss race” framing that has Novo Nordisk asking suppliers for discounts to try to regain share. So the story going into August is that the easy money has been made, generic GLP-1 competition is coming, and pricing goes only one way from here.

Cramer’s Three-Part Bull Case Cramer’s rebuttal is a runway argument in three parts. First, most of the world isn’t on these drugs yet. The numbers back it. Mounjaro did $8.66 billion in Q1 2026, up 125% year over year, with international revenue growing 81% as China added it to the National Reimbursed Drug List. When you pair a doubling in volume with fresh reimbursement in the world’s second-largest economy, you get a curve that looks nothing like a mature product.

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Second, the pill. Cramer called an oral formulation “radical.” The FDA already approved Foundayo (orforglipron), the only GLP-1 pill that can be taken any time of day without food or water restrictions, and it beat oral semaglutide head to head in The Lancet. Every needle-averse patient, every emerging-market pharmacy without cold-chain distribution, every employer benefits manager choking on injectable pricing suddenly becomes addressable. The GLP-1 total addressable market expands the moment the pill hits shelves.

Third, muscle-sparing. Cramer called losing fat without losing muscle the “holy grail” of the category, and he is right that it is the differentiator that matters for the second wave. Retatrutide, Lilly’s next-gen triple agonist, delivered weight loss up to 71.2 lbs with osteoarthritis pain relief in prior trials. If you are the doctor writing scripts three years from now, you write the one that keeps the patient strong.

The August Earnings Catalyst and the Setup Risk Lilly reports again in the first week of August. The setup is straightforward. Management already raised 2026 guidance to $82.0 to $85.0 billion in revenue and $35.50 to $37.00 in non-GAAP EPS, and the company has beaten estimates four straight quarters, including a 25.88% EPS beat last quarter (see the Q1 2026 8-K). Cramer’s read of the JPMorgan note is that it is the first analyst signal of a positive surprise coming.

The risk is exactly what makes the bull case attractive. A stock trading at a full multiple, up double digits into the earnings report, needs the international ramp and the Foundayo launch numbers to actually land. If oral scripts start slower than the Street models, or if Novo’s rebate war compresses net pricing again, the reaction is asymmetric to the downside. Cramer is likely right that “played out” is the wrong frame for a company still adding countries, formulations, and mechanisms. Whether he is right about the next four weeks is a separate question, and the answer arrives in early August.

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Contact [email protected] for any questions or corrections.