NEW YORK, January 1, 2026, 10:21 ET — Market closed
- Eli Lilly shares last closed down 0.5% at $1,074.68 in the final session of 2025. StockAnalysis
- New 2026 pricing data highlighted a more-than-40% list-price cut for Jardiance, which Lilly co-markets. Reuters
- Investors are looking ahead to a January 13 CEO appearance at the J.P. Morgan Healthcare Conference and the company’s Feb. 4 earnings call. Lilly
Eli Lilly shares slipped 0.5% in Wednesday’s final session of 2025, closing at $1,074.68, before U.S. markets shut for the New Year’s Day holiday. StockAnalysis
Why it matters now: drugmakers typically reset U.S. list prices at the start of the year, and new data have put the industry’s pricing playbook back under a political microscope. Reuters reported drugmakers plan to raise list prices on at least 350 branded medicines in 2026, even as they cut prices on a handful of drugs. Reuters
Lilly sits at the center of two investor debates heading into 2026: how fast the company’s blockbuster obesity and diabetes franchise can keep growing, and how pricing pressure from payers and policymakers will show up in net revenue. Oral versions of the new generation of weight-loss drugs, seen as easier to use than injections, are also set to reshape competitive dynamics. Reuters
In the pricing data cited by Reuters, one of the biggest cuts was a more-than-40% reduction for the diabetes drug Jardiance, which Boehringer Ingelheim sells with Lilly. The report said the reductions were tied to government-negotiated Medicare prices for 2026; Boehringer and Lilly did not immediately respond to requests for comment. Reuters
List price is the sticker price before rebates and other discounts that drugmakers often pay to insurers and pharmacy middlemen. Those rebates mean headline price changes do not translate one-for-one into what manufacturers ultimately collect. Reuters
Lilly is coming off a powerful year in the market. Barron’s reported the stock rose nearly 40% in 2025 as demand for Lilly’s obesity and diabetes medicines helped push the company ahead of rival Novo Nordisk in U.S. prescriptions. Barron’s
Investors are increasingly focused on GLP-1 drugs — a class that mimics a gut hormone to lower blood sugar and reduce appetite — moving into pill form. Novo Nordisk won U.S. approval in late December for a Wegovy weight-loss pill, giving it a head start in the race for an oral option. Reuters
Guggenheim analyst Seamus Fernandez argued the lead still belongs to Lilly as that pill era begins. “We simply cannot argue with the company’s superior overall execution,” Fernandez wrote, according to Barron’s. Barron’s
A separate, company-specific data point also hit the tape this week: a Form 4 filing — an SEC disclosure of insider transactions — showed Lilly Endowment Inc. sold 3,593 shares on Dec. 29 at a weighted average price of about $1,085, and still held more than 92 million shares after the sale. SEC
Overseas pricing is also in focus for the weight-loss market. In a Reuters video report published Dec. 30, Reuters said Novo and Lilly were lowering prices of Wegovy and Mounjaro in China, citing the Danish drugmaker and Chinese drug suppliers. Reuters
Before the next session, investors will be watching for more January pricing moves across the industry and any signals on demand and supply for obesity therapies as 2026 begins. Those therapies have been a key driver of Lilly’s valuation, leaving the stock sensitive to any hint of margin pressure. Reuters
Macro also matters for big-cap drugmakers. The U.S. payrolls report for December is scheduled for Jan. 9 and the December consumer price index is due Jan. 13, while the Federal Reserve’s first policy meeting of 2026 is set for Jan. 27–28. Bureau of Labor Statistics
On the company calendar, Lilly said CEO David Ricks is scheduled to speak at the J.P. Morgan Healthcare Conference on Jan. 13, and the company has set its Q4 2025 earnings call for Feb. 4. Lilly
Technically, the stock ended Wednesday near year-end highs. FinanceCharts lists Lilly’s 52-week high at $1,111.99 and its 52-week low at $623.78, putting the latest close about 3% below the high. FinanceCharts
With U.S. markets closed Thursday for the holiday, traders head into Friday’s reopening looking for fresh catalysts — especially around drug pricing, competitive positioning in obesity treatments, and any read-throughs into Lilly’s February earnings report. Nasdaq
