June 26, 2026
Shares of global pharmaceutical company Eli Lilly (NYSE:LLY) jumped 6.3% in the afternoon session after the European Medicines Agency’s committee for human medicines backed its cancer drug, Jaypirca, and the company’s popular weight-loss treatments were set for inclusion in a new Medicare program.
The positive opinion for Jaypirca is for the treatment of chronic lymphocytic leukemia, a significant step that paves the way for the drug’s final approval across the European Union, which is expected within two months. Separately, Medicare announced its GLP-1 Bridge program, starting July 1, 2026. The program will provide access to Eli Lilly’s Zepbound and Foundayo weight-loss drugs for a $50 monthly copay for eligible participants, potentially increasing access for millions. Following the news, Leerink Partners raised its price target on the company’s stock to $1,232.
Is now the time to buy Eli Lilly? Access our full analysis report here, it’s free.
Eli Lilly’s shares are not very volatile and have only had 9 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful, although it might not be something that would fundamentally change its perception of the business.
The previous big move we wrote about was 18 days ago when the stock gained 2.1% on the news that the company reported positive Phase 3 data for retatrutide, its next-generation triple-agonist obesity drug.
This was revealed during a presentation at the American Diabetes Association’s 86th Scientific Sessions on June 6, with the TRANSCEND-T2D-1 trial simultaneously published in The Lancet. Retatrutide is Lilly’s step-change beyond tirzepatide, the molecule behind Mounjaro and Zepbound, activating three hormone receptors (GIP, GLP-1, and glucagon) rather than two.
The ADA presentations covering TRIUMPH-1 and TRANSCEND-T2D-1 showed substantial weight loss alongside meaningful improvements in knee osteoarthritis pain, moderate-to-severe obstructive sleep apnea, and type 2 diabetes. Prior Phase 3 readouts had already shown 24.2% weight loss at 72 weeks in a cardiovascular disease population and 28.7% in a knee osteoarthritis population.
Eli Lilly is up 11.7% since the beginning of the year, and at $1,206 per share, it has set a new 52-week high. Investors who bought $1,000 worth of Eli Lilly’s shares 5 years ago would now be looking at an investment worth $5,286.
WHILE YOU’RE HERE: The Next Palantir? One satellite company captures images of every point on Earth. Every single day. The Pentagon wants it. Hedge funds are using it to beat earnings. You’ve probably never heard of it.
This is what the early days of Palantir looked like before it became a $437 billion giant. Same playbook. Different technology. If you missed Palantir, you need to see this. Claim The Stock Ticker for Free HERE.
©2026 StockStory
Data sources: actuals and consensus estimates from StockStory, S&P Global Market Intelligence, and Visible Alpha. Market data from Massive.
Provided for general information purposes only and does not constitute investment advice or a recommendation that any particular security, portfolio of securities, transaction or investment strategy is suitable for any specific individual. Information on our investment framework and performance methodology is available here.
Copyright 2026, S&P Global Market Intelligence (and its affiliates as applicable). All rights reserved.
Leave a Reply