New York, Jan 8, 2026, 08:36 EST — Premarket
- Eli Lilly shares were up 4.1% premarket after it agreed to buy Ventyx Biosciences for $1.2 billion in cash
- The purchase adds oral inflammation assets as Lilly looks beyond its blockbuster diabetes and obesity drugs
- Focus shifts to pipeline details and spend outlook heading into Lilly’s next earnings call
Eli Lilly shares were up 4.1% at $1,108.09 in premarket trade on Thursday after the drugmaker agreed to buy autoimmune-focused biotech Ventyx Biosciences for $1.2 billion in cash. The deal adds oral drugs for inflammatory diseases and a mid-stage program tied to a cardiovascular condition linked to obesity. “We like that Lilly is taking chances on potentially transformative opportunities,” Cantor Fitzgerald analyst Carter Gould said. Reuters
The move matters because Lilly’s stock has become a proxy for the weight-loss boom, and investors are now looking for what comes after the first wave of GLP-1 wins. Deals that expand the pipeline — especially pills — can shift sentiment fast when expectations are already high.
On Tuesday, Nimbus Therapeutics said it struck a multi-year research and licensing deal with Lilly to develop artificial intelligence, or AI, driven oral treatments for obesity and other metabolic diseases. Lilly will pay $55 million upfront and in near-term milestones, with up to $1.3 billion more tied to development and commercial goals, plus royalties — a slice of future sales — if a drug is approved. Reuters
In the Ventyx transaction, Lilly will pay $14 a share in an all-cash deal and expects to close it in the first half of 2026, subject to Ventyx shareholder and regulatory approvals, the companies said. The price is about 62% above Ventyx’s 30-day volume-weighted average price through Jan. 5 — an average that gives more weight to days with heavier trading. Ventyx’s lead work includes NLRP3 inhibitors, aimed at blocking a protein complex involved in triggering inflammation; Lilly research chief Daniel Skovronsky said inflammation is “a key driver of many chronic diseases.” Barchart
The risk is that the science does not travel. Ventyx’s drugs are still in clinical development, and setbacks in trials can wipe out years of deal logic in a single data readout.
For Thursday’s session, traders will watch whether Lilly holds the $1,100 area once the cash market opens and whether fresh deal chatter pulls other biotech names with inflammation assets into play. Any hint that Lilly is turning more aggressive on M&A could also bring valuation questions back into the frame.
Investors are also likely to press management on how quickly Lilly can turn research-heavy bets into nearer-term products, and whether spending ramps again in 2026 as it juggles obesity, metabolic disease and a broader inflammation push.
