New York, Jan 23, 2026, 18:35 EST — After hours.
- Eli Lilly shares slipped 2.1%, closing at $1,064.29 in late trading
- Analysts reported that Novo Nordisk’s Wegovy pill tallied 18,410 U.S. prescriptions during its initial full week on the market
- Lilly will release its next earnings report on Feb. 4, followed by a conference call at 10 a.m. Eastern
Eli Lilly and Company (LLY.N) shares dropped 2.1% on Friday, closing near $1,064.29 in after-hours trading. During the session, the stock swung between $1,094.57 and $1,063.25.
The pullback comes as investors weigh whether weight-loss pills can expand a market so far dominated by injections. Novo Nordisk’s Wegovy tablet — a GLP-1 drug that suppresses appetite — recorded 18,410 U.S. prescriptions in the week ending Jan. 16, according to IQVIA data cited by analysts. Barclays’ James Gordon described the early tally as “very strong.” Jefferies’ Akash Tewari called the figures “directionally encouraging” for Eli Lilly’s own pill, orforglipron, with an FDA decision expected by April. 1
Lilly plans to release its fourth-quarter 2025 earnings on Feb. 4, followed by a conference call at 10 a.m. Eastern. 2
The broader market gave investors scant relief. The Dow dropped 0.58%, the S&P 500 finished unchanged, and the Nasdaq managed a slight gain, all following Intel’s cautious outlook that shook risk appetite. “We feel pretty good about where we are today,” said Jason Blackwell, chief investment strategist at Focus Partners Wealth. 3
New medical data has reignited debate over the GLP-1 market: how long do patients remain on these medications? A real-world analysis by nference showed many who stopped semaglutide or Lilly’s tirzepatide kept weight off six months later. The researchers noted limitations and that the study hasn’t undergone peer review. “Durability is achievable in routine care,” nference’s chief scientific officer Venky Soundararajan told Reuters. Harvard Medical School’s Michael Gibson called it “a little more hope” that treatment might not be lifelong for everyone. 4
Pricing pressure is mounting overseas as Indian drugmakers like Sun Pharma and Zydus secured regulator approval to sell generic semaglutide, the key ingredient in Novo’s Wegovy and Ozempic. Their patents expire in March. “The generic players will come in with lower prices and expand the number of people they can reach,” said Vishal Manchanda, an analyst at Systematix Institutional Equities. 5
A separate filing Friday revealed that Lilly Endowment holds beneficial ownership of roughly 92.19 million Lilly shares, representing 9.8% of the company as of Dec. 31. The amendment noted this percentage is based on 945.38 million shares outstanding as of Oct. 27, 2025. 6
The next phase of the obesity-drug saga remains tough to value. Initial prescription spikes might fade, and payers could resist on price as more competitors and generics enter the scene, even if demand holds up.
Investors are focused on Feb. 4, when Lilly reports earnings and hosts its conference call. They’ll be hunting for any changes in demand trends for Mounjaro and Zepbound, plus updates on the company’s oral candidate. Until then, traders will likely track prescription data and regulatory dates for the next market-moving news.
