BUZZ-Lilly falls after oral weight-loss drug data fails to impress

Reuters
Aug 07
BUZZ-Lilly falls after oral weight-loss drug data fails to impress

Updates

** Shares of drugmaker Eli Lilly LLY.N fall as much as 13.2% to over one-and-half year low of $646.58

** Stock set for biggest percentage drop since 2000, if losses hold

** LLY says its oral weight loss drug, orforglipron, helped patients lose 12.4% of their body weight on average when given the highest dose of 36 milligrams in a late-stage study

** "We are disappointed in this data, and expect to see investors lash out at LLY today," Bernstein analysts said, adding that investors were expecting around 14% weight loss at the highest dose

** Danish rival Novo Nordisk's NOVOb.CO injectable weight-loss treatment Wegovy showed 14.9% weight loss over 68 weeks in a 2021 trial

** U.S.-listed shares of Novo rose 7.3% to $48.73

** Shares of smaller rival Viking Therapeutics VKTX.O, which is also developing an oral weight-loss drug, rose 6.6% to $34.1

** Including sessions' moves, LLY down 15.4%, VKTX down 15%, U.S.-listed shares of Novo down 43.6% YTD

(Reporting by Mariam Sunny and Siddhi Mahatole in Bengaluru)

((Mariam.ESunny@thomsonreuters.com;))

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