December 18, 2025 — Eli Lilly and Company (NYSE: LLY) is back in the spotlight after the drugmaker released new Phase 3 results for its experimental oral obesity medicine orforglipron, a development investors have been watching closely as the weight-loss market pushes beyond injections and into pills. At the same time, a report said Lilly is preparing material price cuts in Canada for its blockbuster medicines Mounjaro and Zepbound—a reminder that pricing and access remain central to the long-term investment case. [1]
Eli Lilly stock price today
LLY shares were trading around $1,060 on Thursday, December 18, up about 1.75% on the session at the time of the latest available trade, after moving between roughly $1,036 and $1,079 intraday. (Prices fluctuate throughout the day; these figures reflect a snapshot of trading activity.)
Reuters reported that Lilly shares were up about 1.3% following the orforglipron update, underscoring that the market reaction—while positive—has been relatively measured for a stock that has already rallied sharply over the past year. [2]
The headline catalyst: Lilly’s oral obesity pill orforglipron posts new Phase 3 results
Lilly announced positive topline results from ATTAIN‑MAINTAIN, a Phase 3 trial designed to answer a practical real-world question in obesity care: What happens when patients who have already lost significant weight on injectable GLP‑1 drugs switch to a pill for long-term maintenance? [3]
What ATTAIN‑MAINTAIN tested
According to Lilly, ATTAIN‑MAINTAIN followed participants who had previously taken Wegovy (semaglutide) or Zepbound (tirzepatide) in the head-to-head SURMOUNT‑5 program and then re-randomized eligible patients to receive orforglipron or placebo for maintenance over 52 weeks. Lilly said the pill met the primary and key secondary endpoints versus placebo. [4]
The results investors are focused on
Lilly’s topline summary emphasized weight maintenance after the switch:
- Patients switching from Wegovy → orforglipron maintained prior weight loss with an average difference of 0.9 kg.
- Patients switching from Zepbound → orforglipron maintained prior weight loss with an average difference of 5.0 kg. [5]
The company also provided concrete weight markers for context: in the Wegovy cohort, average weight fell from 113.5 kg at the start of SURMOUNT‑5 to 95.0 kg at the start of ATTAIN‑MAINTAIN, ending around 95.9 kg after 52 weeks of oral maintenance; in the Zepbound cohort, average weight dropped from 115.8 kg to 90.9 kg at the switch, ending around 95.9 kg after a year of maintenance. [6]
Safety and tolerability: what Lilly disclosed today
Lilly said the safety profile in ATTAIN‑MAINTAIN was consistent with prior orforglipron studies, with gastrointestinal side effects most common and generally mild-to-moderate. Lilly also stated that no hepatic safety signal was observed in this trial. [7]
Why this matters for LLY stock: the market is moving from injections to a “pills + maintenance” era
For investors, the strategic appeal of an obesity pill isn’t just convenience—it’s market expansion. A pill can potentially broaden access for patients who are injection-averse, simplify logistics in some settings, and create new “step-down” protocols where patients move from high-powered injections to oral maintenance.
Reuters framed the update as a boost to the idea that Lilly can deliver a more convenient obesity option and potentially widen its lead in a market expected to attract more entrants. [8]
MarketWatch also highlighted that Lilly and Novo Nordisk are positioning next-generation products for the FDA, with orforglipron a potential first-in-class GLP‑1 pill specifically for weight loss, while Novo is advancing alternative next-gen approaches. [9]
Regulatory outlook: FDA review speed is part of the story
Lilly says it has submitted orforglipron to the FDA for obesity. The company also noted that the drug has received a Commissioner’s National Priority Voucher, a program designed to accelerate review timelines under certain conditions. [10]
Reuters reported that Lilly could receive a decision as early as March 28, 2026 if an accelerated timeline is adopted, and that a decision on Novo Nordisk’s competing oral obesity filing is expected by late December 2025, with Lilly’s decision anticipated early next year. [11]
The practical takeaway for markets: the nearer the potential approval date, the sooner investors can model a launch curve—and the sooner competitors must respond.
Pricing headlines: Lilly reportedly cuts Mounjaro and Zepbound prices in Canada
Separately, Reuters reported that The Globe and Mail said Lilly is reducing the Canadian list prices of Mounjaro and Zepbound by 20% or more, citing a note to pharmacies. The report said the new pricing would take effect December 29, with a four-week supply priced at CAD 300 for certain lower doses and CAD 420 for higher doses listed in the report. Lilly did not immediately comment, and Reuters said it could not immediately verify the report. [12]
Why a Canada price move matters to investors
Even if Canada is smaller than the U.S. market, the headline is relevant because it touches a core tension in the LLY bull case:
- Lower prices can expand demand and reduce friction around access.
- Pricing pressure can compress margins and encourage governments/payers to push harder in other markets.
In other words, demand growth and affordability efforts can be bullish for volume—but investors will keep scrutinizing what these moves imply for long-term net pricing globally.
Wall Street forecasts today: targets remain high, but upside looks more modest after the rally
Despite Thursday’s positive catalyst, the “easy” part of the story—proving Lilly can dominate GLP‑1 obesity—has largely been priced in. That’s showing up in the shape of analyst forecasts.
- MarketBeat’s consensus (based on 26 analyst ratings) shows a “Buy” consensus, with an average 12‑month price target of $1,141.73 (with the published range spanning $900 to $1,300). [13]
- Investing.com reported that Goldman Sachs reiterated a Buy rating with a $1,145 price target following ATTAIN‑MAINTAIN, while noting valuation metrics and that the stock was trading near its 52‑week high. [14]
The market implication: with LLY already around the low-$1,000s, many published targets imply single-digit percentage upside, which can make the stock more sensitive to any disappointment on pricing, safety, manufacturing scale-up, or competitive launches.
The pipeline backdrop: investors aren’t just buying today’s data point
Today’s orforglipron update lands in a broader narrative: Lilly is trying to build a multi-product, multi-formulation obesity franchise.
One example is retatrutide, Lilly’s investigational “triple agonist” (GLP‑1/GIP/glucagon). In a Phase 3 trial program update released earlier this month, Lilly described TRIUMPH‑4 as a 68‑week study in adults with obesity/overweight and knee osteoarthritis, and said it expects additional readouts from the broader program in 2026. [15]
A Dec. 18 analysis piece from The Motley Fool argues that pipeline depth—beyond today’s orforglipron headline—is part of why investors have stayed engaged even at elevated valuation levels, while also flagging that the stock’s forward valuation appears richer than the broader healthcare sector. [16]
Key risks to watch: what could move LLY stock next
For Google News readers tracking LLY, the near-term direction often comes down to a handful of recurring issues:
1) FDA timing and labeling details
Even strong topline data can trade differently depending on whether the FDA grants faster timelines and what the eventual label allows (and doesn’t allow). Reuters has highlighted March 2026 as a possible decision point if the accelerated timeline is adopted. [17]
2) Safety/tolerability in larger, real-world populations
Lilly emphasized GI side effects and said no hepatic safety signal was observed in ATTAIN‑MAINTAIN—but investors will want peer-reviewed data and broader post-market-style clarity if the drug is approved. [18]
3) Pricing and access pressures
The Canada price-cut report reinforces that affordability is becoming a front-and-center issue for GLP‑1s. If broader price concessions spread, revenue growth could stay strong while margins face headwinds. [19]
4) Competitive response from Novo Nordisk and others
The next wave of obesity medicines—pills, combinations, and next-gen injectables—could reshape market share dynamics. MarketWatch has framed this as a “new generation” moment, not a settled market. [20]
What to watch on the calendar after December 18, 2025
If you’re following Eli Lilly stock into 2026, the most market-relevant milestones coming out of today’s coverage are:
- FDA decision windows for oral obesity contenders (including the possibility of an accelerated timeline for orforglipron). [21]
- Full data disclosure: Lilly says detailed ATTAIN‑MAINTAIN results will be presented at a future medical meeting and published in a peer-reviewed journal. [22]
- Ongoing pricing developments across major markets, following the Canada report and earlier affordability moves referenced by Reuters. [23]
Bottom line
Eli Lilly stock is reacting to a familiar (and still powerful) playbook: clinical execution in obesity medicines plus a push toward more scalable, patient-friendly formats like pills. Today’s ATTAIN‑MAINTAIN results strengthen the case that Lilly could extend its obesity franchise beyond the injection boom—while the Canada pricing headline is a reminder that the industry’s next phase is as much about access and affordability as it is about breakthrough efficacy. [24]
References
1. www.reuters.com, 2. www.reuters.com, 3. www.prnewswire.com, 4. www.prnewswire.com, 5. www.prnewswire.com, 6. www.prnewswire.com, 7. www.prnewswire.com, 8. www.reuters.com, 9. www.marketwatch.com, 10. www.prnewswire.com, 11. www.reuters.com, 12. www.reuters.com, 13. www.marketbeat.com, 14. ca.investing.com, 15. www.prnewswire.com, 16. www.fool.com, 17. www.reuters.com, 18. www.prnewswire.com, 19. www.reuters.com, 20. www.marketwatch.com, 21. www.reuters.com, 22. www.prnewswire.com, 23. www.reuters.com, 24. www.prnewswire.com
