New York, January 7, 2026, 11:41 EST — Regular session.
- Eli Lilly shares rose about 3% after a report it is in talks to buy Ventyx for more than $1 billion
- The move follows a fresh obesity-pill development deal and comes as rival Novo rolls out an oral Wegovy in the U.S.
- Investors are looking to next week’s J.P. Morgan healthcare conference and Lilly’s early-February earnings call for updates
Eli Lilly and Company shares were up 3.3% at $1,099.44 in late morning trade, pushing back toward the $1,100 level as investors cheered fresh deal chatter around the drugmaker’s pipeline. (https://www.reuters.com/markets/companies/LLY.N/)
The lift matters now because the market is watching how Lilly defends its growth run while competitors push pill versions of obesity drugs and pricing stays in flux. Investors have rewarded companies that can keep adding late-stage shots on goal without derailing margins.
The Wall Street Journal reported Lilly is in advanced talks to buy Ventyx Biosciences for more than $1 billion, a deal it said could be announced soon. Lilly told Reuters it does not “comment on business development activity,” while Ventyx did not immediately respond to a request for comment. (https://www.reuters.com/business/healthcare-pharmaceuticals/lilly-talks-buy-ventyx-biosciences-more-than-1-billion-deal-wsj-reports-2026-01-06/)
The broader tape was uneven, with U.S. stocks mixed as traders weighed a string of labor-market data ahead of Friday’s nonfarm payrolls report. “Investors could stay cautious over the next couple of days,” Kim Forrest, chief investment officer at Bokeh Capital Partners, said, pointing to the jobs data as a near-term trigger. (https://www.reuters.com/business/sp-500-nasdaq-futures-inch-lower-after-rally-labor-data-focus-2026-01-07/)
Lilly’s bid talk also lands a day after Nimbus Therapeutics announced a multi-year research and licensing deal with Lilly to develop artificial intelligence-driven oral treatments for obesity and other metabolic diseases. Under the agreement, Lilly will pay $55 million upfront and in near-term milestones, plus up to $1.3 billion tied to development and commercial targets, Nimbus said. (https://www.reuters.com/business/healthcare-pharmaceuticals/nimbus-lilly-sign-deal-develop-new-oral-obesity-drug-2026-01-06/)
Competition in obesity is tightening. Novo Nordisk is launching a once-daily Wegovy pill in the United States at $149 per month for a starter dose for self-paying patients, Reuters reported, and Lilly has said it expects a March decision for its own pill. GLP-1 drugs mimic a gut hormone that helps curb appetite and control blood sugar, and the shift from weekly injections to pills has put new weight on pricing and access. (https://www.reuters.com/sustainability/boards-policy-regulation/novo-nordisk-sell-wegovy-pill-us-self-pay-patients-starting-149-per-month-2026-01-05/)
Separately, Lilly is showing up on the other side of biotech’s funding cycle. Cancer drug developer Aktis Oncology said Lilly indicated interest in buying about $100 million of shares as an anchor investor in its upsized IPO, and IPOX research associate Lukas Muehlbauer said Lilly’s commitment “shows that (Aktis’) cancer-targeting technology has passed the scrutiny of a major industry leader.” (https://www.reuters.com/business/healthcare-pharmaceuticals/aktis-oncology-aims-raise-up-3177-million-upsized-us-ipo-2026-01-07/)
A securities filing added a reminder that big holders still trade around the edges. Lilly Endowment Inc disclosed it sold 1,390 shares on Jan. 5 at a weighted average price of about $1,085, leaving it with 92,189,126 shares, the Form 4 showed. 1
But the pop has strings attached. A Ventyx deal is not guaranteed, and even a friendly announcement can re-open the usual questions about price paid and what, exactly, Lilly is buying after a long run in biotech valuations. Investors are also watching whether early pricing signals for obesity pills pull demand forward—or squeeze the market.
Next up: Lilly CEO David A. Ricks is scheduled to speak at the J.P. Morgan Healthcare Conference on Jan. 13 at 5:15 p.m. Eastern time, and the company has its fourth-quarter earnings call on Feb. 4 at 10:00 a.m. EST, where any update on dealmaking, obesity pricing and 2026 guidance tone could reset the stock. 2 3
