Eli Lilly stock slides as Novo’s Wegovy pill hits U.S. market and revives price pressure fears
Eli Lilly shares fell 3.6% to $1,041.51 in after-hours trading Monday after Novo Nordisk launched a pill version of its Wegovy weight-loss drug in the U.S. Novo’s shares rose 5.2% as investors reacted to new pricing and distribution details. Lilly’s stock traded as low as $1,034 earlier in the session. Investors await commentary at the J.P. Morgan Healthcare Conference and Lilly’s earnings call.