New York, Jan 28, 2026, 12:03 ET — Regular session
- Eli Lilly shares slipped roughly 2.4% in late morning trading, dragging amid a broadly lower session for the stock.
- The drugmaker inked a deal with Germany’s Seamless Therapeutics, potentially topping $1.12 billion, targeting gene-editing therapies for hearing loss.
- Washington also included Lilly’s Trulicity in the upcoming round of Medicare drug-price negotiations, leaving pricing risks on the table.
Eli Lilly and Company shares dipped roughly 2.4% to $1,015.05 on Wednesday, following a close of $1,039.51 the day before. Intraday, the stock fluctuated between $1,012.09 and $1,038.96.
Traders are processing Lilly’s latest move into genetic medicines. The company inked a deal with Seamless Therapeutics valued at up to $1.12 billion to develop and commercialize gene-editing treatments for hearing loss. Lilly will manage the project from preclinical stages through to market launch. Seamless CEO Albert Seymour described the partnership as a “way for us to work with the platform.” Lilly noted the agreement underscores its “sustained investment in genetic medicines” beyond its blockbusters Zepbound and Mounjaro. (Reuters)
Policy risks lingered as the U.S. government named 15 drugs for Medicare price negotiations in 2028, including Lilly’s Trulicity, a GLP-1 diabetes medication that targets a hormone pathway common to many new diabetes and weight-loss drugs. BMO Capital Markets analyst Evan Seigerman called the effects “manageable,” but Elizabeth Carpenter from PhRMA warned that government price controls could lead to “higher costs” and “fewer choices.” (Reuters)
Obesity drug competition is heating up—and the price tag is soaring. According to MediaRadar data reviewed by Reuters, Novo Nordisk shelled out roughly $487 million on U.S. ads for Wegovy and Ozempic during the first nine months of 2025. That’s more than twice Lilly’s $214 million estimated spend on Zepbound and Mounjaro. David Moore, head of Novo’s U.S. operations, said the company will push a pill version right away through cash-pay channels. Emarketer analyst Rajiv Leventhal suggests Novo’s ramp-up aims to challenge Lilly’s current weight-loss lead. Still, Prescryptive’s Rae McMahan cautions that advertising can only do so much: “It’s still a conversation” between doctor and patient. (Reuters)
Lilly investors are looking long-term when it comes to gene editing. The immediate concerns are simpler: how much pricing power the company can hold onto in diabetes and obesity, and if payers and patients will continue footing the bill as competition heats up.
The downside is straightforward to outline. Medicare negotiations could pressure established franchises, obesity demand might weaken if coverage remains inconsistent, and early-stage genetic projects risk delays that only emerge during human trials.
Lilly is gearing up to release its fourth-quarter 2025 results on Feb. 4, followed by an earnings call at 10 a.m. Eastern. Investors will be zeroed in on updates about demand for Mounjaro and Zepbound, along with the company’s manufacturing capacity and spending to protect its market share. (Lilly Investor Relations)
For now, the stock will probably react to any new developments on drug pricing, the push in obesity marketing, and whether Lilly’s upcoming pipeline projects can gain traction before Washington steps in. The next major milestone is the Feb. 4 report.
