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Eli Lilly craters after disappointing trial results for its GLP-1 pill, despite cheery earnings results

This is the first quarter that Lilly’s GLP-1s outsold Novo Nordisk’s.

8/7/25 6:07AM

Eli Lilly dropped sharply after it reported disappointing trial results for its next-gen weight-loss pill alongside earnings results that crushed Wall Street expectations thanks to its blockbuster GLP-1 drugs that were already on the market.

Minutes before releasing its earnings results, Eli Lilly reported late-stage trial results for its GLP-1 pill, orforglipron, which helped patients lose an average of 12.4% of their body weight, which is less than a rival pill made by Novo Nordisk.

Shares plunged 13% in recent premarket trading.

It also reported sales of $15.5 billion, beating the $14.7 billion analysts were expecting, thanks to booming sales of its GLP-1 shots. That contributed to a strong earnings beat, with adjusted earnings per share coming in at $6.31 — significantly higher than the $5.60 analysts polled by FactSet were expecting.

The company reported $3.4 billion worth of sales of Zepbound, its weight-loss shot, and $5.2 billion of sales of Mounjaro, its diabetes shot. Both beat analysts’ estimates and mark the first quarter both shots outsold Novo’s respective drugs, Wegovy and Ozempic.

Lilly so far has been catching up to Novo Nordisk, which was the first to bring GLP-1s to market but has seen its sales decelerate in recent quarters. The company slashed its annual sales outlook last week, blaming compounding pharmacies for lower-than-expected sales of its weight-loss drugs.

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SpaceX spectrum deal sends would-be rivals lower

Shares of struggling satellite services company EchoStar soared Monday, after the company — which had recently tottered close to bankruptcy — announced the sale of some of its wireless spectrum licenses to Tesla CEO Elon Musk’s SpaceX for $17 million.

The sale provides a competitive advantage to Musk’s growing Starlink satellite services business, as the licenses it is acquiring from Echostar allows Starlink to operate ground based broadband and cellphone services, the Wall Street Journal reported.

Entities that stood to be hurt by the emergence of a Musk-led SpaceX Starlink service got hit hard on the news. AST SpaceMobile, which has plans to offer a similar satellite-to-consumer cellular service, tumbled.

So did wireless tower providers like Crown Castle and American Tower. Low cost cellular service provider T-Mobile, which had a deal with SpaceX, also slumped, as Luke noted earlier, along with other large wireless telecommunication services providers.

The wireless telecommunications industry grouping within the S&P 500 was down more than 2.5% shortly after noon, making it the worst performing industry within the S&P 500 on Monday.

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The wireless telecommunications industry grouping within the S&P 500 was down more than 2.5% shortly after noon, making it the worst performing industry within the S&P 500 on Monday.

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Hims rises, Novo dips after FDA releases “green list” of GLP-1 raw material suppliers

Hims & Hers rose and Novo Nordisk slipped in early trading after the US Food and Drug Administration released a "green list" of foreign GLP-1 ingredient suppliers that it considers in compliance with agency standards.

Some telehealth companies like Hims sell copycat versions of Novo's and Eli Lilly’s blockbuster weight-loss drugs through compounding pharmacies, which take the active ingredients from FDA-approved medications and make adjusted, or "personalized,” versions of the drug for patients.

Novo and Lilly have fought against this, arguing that it infringes on their intellectual property. They've sued smaller telehealth providers, pharmacies, and clinics in lieu of any action against them from the FDA. Instead, the FDA gave compounders a list of suppliers it deems safe.

Recent developments in the cases filed by the drugmakers so far as well as the FDA's recent actions suggest telehealth companies may be in a less risky position than investors previously thought. As of Monday morning, prediction markets pegged the likelihood of a suit from Novo against Hims at 34%, down from about 70% earlier this month.

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UNH rises after saying it plans to reiterate outlook

UnitedHealth rose 2% in early trading after it disclosed that it plans to reiterate its full-year earnings outlook when it meets with investors this week.

The company said on July 29 that it was expects to report annual adjusted earnings per share of at least $16. The company had previously pulled full-year guidance and prior to that withdrawal, had told investors it expected to see earnings of $26 to $26.50 per share.

Currently, a analysts polled by FactSet are penciling in $16.23, compared to $17.21 before the guidance came down.

UnitedHealth has had a tumultuous year as he industry has been hit with rising costs of care, and UnitedHealth specifically has been hit with investigations into its Medicare Advantage practices. It recently got a boost after Warren Buffett's Berkshire Hathaway revealed that it's built a stake in the company