Eli Lilly stock rises on Nimbus obesity pill pact as oral drug race heats up
Eli Lilly shares rose about 1.6% Tuesday after Nimbus Therapeutics announced a deal to develop an oral obesity drug with the company. Nimbus will receive $55 million upfront and could get up to $1.3 billion in total payments plus royalties. The agreement follows Novo Nordisk’s U.S. launch of its $149-a-month Wegovy pill, intensifying focus on oral weight-loss treatments.