New York, Feb 14, 2026, 11:15 EST — Trading has ended for the day.
- Eli Lilly finished the session Friday with shares up roughly 0.3%, closing at $1,040.
- The latest annual filing put $1.5 billion in “pre-launch” inventory on the books, mostly linked to the company’s oral obesity drug, orforglipron.
- With U.S. markets closed Monday for Washington’s Birthday, trading resumes on Tuesday.
Eli Lilly finished Friday at $1,040, ticking up roughly 0.3%. Traders reacted to a fresh filing indicating the company’s been stockpiling its experimental weight-loss pill. Source: https://www.barrons.com/market-data/stocks/lly (Barron’s)
This filing takes on extra weight for Lilly, with the drugmaker awaiting an FDA decision in April on orforglipron. That’s the company’s oral obesity drug, which could push Lilly further into a market currently led by weekly injectable options. Source: https://www.reuters.com/business/healthcare-pharmaceuticals/eli-lilly-builds-15-billion-stockpile-weight-loss-pill-ahead-fda-decision-2026-02-12/ (Reuters)
Lilly’s 10-K shows $1.5 billion in pre-launch inventories on the books as of December 31, 2025, the bulk of it tied to orforglipron. The company logs “pre-launch” inventory—goods made ahead of potential approval—as assets when they’re confident about commercialization. Source: https://www.sec.gov/Archives/edgar/data/59478/000005947826000013/lly-20251231.htm (SEC)
The next opportunity to trade the stock arrives Tuesday—U.S. exchanges take a break Monday for Washington’s Birthday. Source: https://www.nyse.com/markets/hours-calendars (New York Stock Exchange)
The fresh supply comes as competition heats up with Novo Nordisk, which has already rolled out its daily Wegovy pill in the U.S. IQVIA prescription figures, referenced by Reuters, put Novo’s tablet at 38,220 U.S. scripts by its fifth week on the market. Source: https://www.reuters.com/business/healthcare-pharmaceuticals/novos-wegovy-pill-tracks-over-38000-prescriptions-fifth-week-2026-02-13/ (Reuters)
Lilly pointed out it’s aiming for a speedier regulatory path. Orforglipron picked up a Commissioner’s National Priority Voucher—a move that, according to the company, “could accelerate potential U.S. approval timing.” (SEC)
The market’s going to zero in on that “accelerate” angle heading into April. Reuters noted the voucher might slash review times down to just one or two months, compared with the usual 10 to 12 months most new drugs face. (Reuters)
The filing didn’t just focus on the pill itself; it kept a spotlight on pricing and access—territory where GLP-1 drugs, which imitate gut hormones to suppress appetite and manage blood sugar, have faced ongoing scrutiny from both policymakers and insurers. Lilly, for its part, projected that Medicare patients could see discounted obesity drug access as soon as July 1, 2026, citing early-stage voluntary arrangements with the federal government. (SEC)
Here’s the risk: making a large inventory play could backfire into a writedown if timelines don’t line up. Lilly has already cautioned that holdups and uncertainty around regulatory approvals “can result in delays in product launches… impairment of inventories, and other negative impacts.” (SEC)
Looking to the next few days, investors have an eye on updates around the FDA’s orforglipron timeline and any signs that Novo’s pill is starting to shape new forecasts for demand—and possibly pricing—across the obesity drug space.
