Eli Lilly stock slides as Novo’s Wegovy pill hits U.S. shelves and stokes obesity-drug pricing fears
Eli Lilly shares dropped 3.4% to $1,043.14 after Novo Nordisk launched U.S. sales of an oral Wegovy weight-loss pill starting at $149 a month. Novo’s move intensified focus on pricing in the obesity drug market. The Health Care Select Sector SPDR ETF fell 1.3%, while Novo Nordisk shares rose 2.9%. Investors are awaiting Lilly’s next earnings update on February 4.