Khadija Saeed

Eli Lilly and Company shares ended Tuesday down $24.22, or roughly 2.3%, at $1,039.51. In after-hours trading, the stock edged up about 0.3% to $1,042.50. The U.S. Centers for Medicare & Medicaid Services announced it selected Lilly’s Trulicity, a type 2 diabetes drug, along with 14 other medicines for 2028 price negotiations. This marks the first time the list includes some therapies covered under Medicare Part B. Last year, the agency projected that negotiated prices for the 15 drugs chosen for 2027 would cut annual spending by 36%, roughly $8.5 billion, compared to recent costs.