New York, Jan 24, 2026, 10:05 EST — Market closed
- Eli Lilly shares dropped 2.1% on Friday, ending the day at $1,064.29
- Analysts reported that Novo Nordisk’s new Wegovy pill pulled in 18,410 U.S. prescriptions during its first full week on the market
- Lilly will release its fourth-quarter results on Feb. 4
Eli Lilly and Co shares fell on Friday, breaking a brief streak of gains as investors refocused on the ongoing battle in the obesity drug sector that has driven the stock’s recent volatility. The shares closed 2.12% lower at $1,064.29.
The decline is significant since Lilly’s valuation hinges largely on its diabetes and weight-loss business, along with its ability to expand access without sacrificing too much on pricing. New data from competitors quickly gets factored into models — and shifts positioning accordingly.
U.S. markets are closed for the weekend, so the next session will focus more on demand signals than any single company news. Prescription trends, reimbursement talks, and rollout schedules for next-gen pills are driving the action.
One key data point fueling that attention: Novo Nordisk’s Wegovy pill was prescribed 18,410 times in its first full week on the U.S. market, according to IQVIA data cited by analysts. Barclays’ James Gordon described the early numbers as “very strong,” while Jefferies’ Akash Tewari called the uptake “directionally encouraging” for Lilly’s experimental obesity drug, orforglipron, which is awaiting an FDA decision expected by April. Reuters
Oral obesity drugs promise a needle-free option, yet insurance coverage and cash-pay trends continue to drive the market. Injectables are still forecasted to lead sales for years, keeping investors focused on the product mix rather than just overall figures.
India’s regulator has approved several local drugmakers to produce and sell generic versions of semaglutide — the key ingredient in Novo’s Wegovy and Ozempic — ahead of the patent expiry in March 2026. Vishal Manchanda, an analyst at Systematix Institutional Equities, said these cheaper generics could “expand the number of people” reached as generic companies drive prices down and ramp up marketing. Reuters
For global players like Lilly and Novo, the situation is double-edged: a bigger market comes with mounting price pressure as copycats emerge and payers resist. It also sharpens the focus on how long patients remain on treatment—and how much they end up paying.
Fresh research this week added fuel to the debate. An analysis of real-world data shared with Reuters showed many patients didn’t quickly regain weight after stopping GLP-1 drugs like Lilly’s tirzepatide and Novo’s semaglutide. Venky Soundararajan, nference’s Chief Scientific Officer, said the results suggest “durability is achievable in routine care.” Harvard Medical School’s Michael Gibson described the findings as offering “a little more hope” that lifelong treatment might not be necessary for everyone. The researchers noted typical observational study limitations and said the work still needs peer review. Reuters
Still, risks remain. Early prescription spikes may not hold up, oral launches could stumble over out-of-pocket costs, and any regulatory setback might push timelines back. Plus, if lower-cost semaglutide takes off in major markets, investors could shift focus to long-term net pricing instead of just sales volume.
Lilly will report its fourth-quarter results on Feb. 4, followed by a conference call at 10 a.m. Eastern.
