On August 11, Eli Lilly rose 3.02% in regular trading, trading at $1221.47 per share, with turnover of $1.637 billion. The move was driven by news that the UK Medicines and Healthcare products Regulatory Agency (MHRA) approved Eli Lilly's oral GLP-1 drug orforglipron, marketed as Foundayo, for weight management and type 2 diabetes treatment, making the UK the first European country to authorize the oral tablet.

The once-daily pill is cleared for weight loss and maintenance in adults with a BMI of 30 or higher, or a BMI from 27 to 30 with at least one weight-related condition. Patients take the pill without food or water restrictions, starting at 0.8 mg and escalating to 17.2 mg. This approval further expands Eli Lilly's global GLP-1 market footprint following strong Q2 results, where revenue surged 48% year-over-year to $22.97 billion, significantly exceeding the $20.69 billion consensus. Multiple investment banks subsequently raised price targets, with Morgan Stanley targeting $1,419 and Jefferies at $1,440.

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