New York, February 12, 2026, 11:40 a.m. EST — Regular session
- Eli Lilly shares climbed roughly 1.8% in late morning trade, moving ahead of the broader healthcare sector.
- The drugmaker pointed to Chinese approval of mirikizumab for treating Crohn’s disease as well as ulcerative colitis.
- Eyes are on the Feb. 13 ex-dividend date, with traders also weighing a U.S. ruling in April for Lilly’s oral weight-loss pill.
Eli Lilly and Company climbed almost 2% Thursday, pushing its rebound further as the company reported new regulatory progress for mirikizumab in China—a drug aimed at inflammatory bowel disease. By late morning, shares traded at $1,033.23, up 1.8%. The Health Care Select Sector SPDR Fund posted modest gains. Novo Nordisk’s U.S. shares, however, slipped.
This is significant for investors banking on Lilly’s ability to expand beyond its mainstays in obesity and diabetes treatments—especially with Washington’s price pressures still looming. Sure, approval in China isn’t a game-changer on its own. But it does bolster the view that fresh markets and product categories might fuel the company’s next phase of growth.
Lilly said Wednesday that Chinese regulators have signed off on mirikizumab for patients with moderately-to-severely active Crohn’s disease and ulcerative colitis—both tough, chronic bowel conditions. Still no word from the company on when it’ll launch in China or how much it’ll cost. Clarivate projects that the ulcerative colitis therapy market in the country is set to post “considerable growth” over the next decade as more targeted drugs enter the market. Reuters
The obesity-drug battle is getting fresh numbers. Early users of Novo Nordisk’s oral Wegovy pill—recently approved—include 36% who hadn’t tried a GLP-1 drug before, according to a Truveta review. Another 15.8% in the study had switched over from Eli Lilly’s Zepbound, also a GLP-1. The data comes from 8,762 U.S. patients. Novo is selling smaller doses at $149 per month for self-payers, with the price set to jump to $199 in April. Reuters notes a competing oral weight-loss pill from Lilly could get the green light that same month.
Novo tossed in a new twist late Wednesday, announcing plans to roll out Wegovy in vials. “We are exploring various device presentations for Wegovy, including vials,” the company said. The move comes as Novo tries to regain ground, after Zepbound overtook Wegovy in U.S. prescriptions; Lilly already sells vials of lower-dose Zepbound and has slashed prices for some products online. Reuters
The field isn’t just Novo and Lilly anymore. Kailera Therapeutics, working with Jiangsu Hengrui Pharmaceuticals, reported this week that their oral drug ribupatide delivered up to 12.1% weight loss after 26 weeks in a phase 2 study out of China, as more companies look for a pill that might rival injectable treatments.
Policy risk still hangs over drug stocks. According to a Reuters report late Wednesday, drugmakers left out of Trump administration pricing agreements are scrambling to hash out their own deals in hopes of sidestepping tariffs and fresh Medicare price rules. “The administration wants to negotiate deals that meaningfully lower drug prices for American patients with every pharmaceutical company,” a White House spokesman told Reuters. So far, 16 major drug companies—including Lilly—have reached agreements after receiving directive letters, Reuters said. Reuters
The calendar’s in play here as well. Eli Lilly stock goes ex-dividend on Feb. 13, so investors grabbing shares after that date usually miss out on the next $1.73-per-share dividend, which is due March 10, per the company’s investor site.
Even so, the bullish thesis isn’t bulletproof. Regulatory green lights in China won’t necessarily translate into quick uptake if pricing and reimbursement remain uncertain. And with more competitors, particularly oral GLP-1s, crowding in, price erosion and wavering brand allegiance are real risks for a drug class already facing political heat.
Traders now have their eyes on Friday’s ex-dividend date. They’re also waiting for any updates tied to a China rollout for mirikizumab, plus the anticipated U.S. decision on Lilly’s oral weight-loss pill coming in April.
