Eli Lilly Faces Setback with Orforglipron Trial

In a significant blow to Eli Lilly and Company, the Phase III trial of its weight loss oral medicine, orforglipron, failed to meet expectations, causing shares to plummet by 15%. This development positions the drug poorly against Novo Nordisk A/S's Ozempic, a leading competitor in the weight loss medication market.

Market Reaction and Share Price Impact

The disappointing trial results overshadowed the company's otherwise positive earnings report, leading to a sharp decline in stock value. At 11:21 am ET, Eli Lilly's shares were down by 14.45%, trading at $638.5314, after an earlier drop of nearly 15%.