Eli Lilly shares rise 3.7% on Omvoh results after European recommendation for Foundayo
Key Facts
Eli Lilly shares rose 3.7% in morning trading on October 20, 2026, according to Investing.com, coinciding with the announcement of positive study results for Omvoh. The gains followed a European regulatory recommendation for the company's Foundayo pill, which Reuters confirmed in its coverage published on October 16. Investing.com attributed the main catalyst for the share price rise to the Omvoh results, which covered a year-long follow-up period. The website described the results as "positive," placing the announcement at the forefront of developments driving trading. The recorded share price increase was a reading during the morning session, rather than a change calculated on a closing-price basis.
The European Medicines Agency's Committee for Medicinal Products for Human Use adopted its recommendation on Foundayo on October 15, before its publication the following day. The recommendation covers the drug's use for weight management and the treatment of type 2 diabetes in adults, according to the European agency. The recommendation is subject to review by the European Commission before final approval for its launch in the region, according to Reuters. Foundayo is taken orally as a daily pill, according to Eli Lilly's description of the drug when announcing its U.S. approval. The company said it can be taken "at any time of day without food and water restrictions."
In a study involving adults without diabetes, average weight loss with the 17.2 mg dose of Foundayo was about 11.1%, according to results published by Eli Lilly. Average weight loss among placebo recipients in the same study was 2.1%. On safety, common side effects listed in the U.S. prescribing information include nausea, constipation, diarrhea and vomiting. The prescribing information also carries a boxed warning concerning thyroid C-cell tumors, according to the U.S. Food and Drug Administration. The agency included the warning in its statement announcing the drug's U.S. approval, alongside authorization for its marketing.
The U.S. Food and Drug Administration approved Foundayo, whose active ingredient is called orforglipron, on April 1, 2026. Eli Lilly announced its commercial availability in the United States on April 9, following that approval. The company made the drug accessible through its direct platform and telehealth providers, according to its commercial launch statement. In the same statement, it also announced the start of expanded availability through U.S. retail pharmacies. On August 10, 2026, the British regulator authorized orforglipron for weight management and the treatment of type 2 diabetes, before the European recommendation.
Eli Lilly said when announcing the U.S. approval that it had submitted regulatory applications for the drug in more than 40 countries. It added that it planned to launch the drug in each country shortly after receiving approval. This international rollout comes as the company's revenue rose 48% year on year in the second quarter of 2026, according to its financial results. Eli Lilly's revenue for that quarter reached $23.0 billion, according to the same statement. The company attributed revenue growth primarily to higher sales volumes of Mounjaro and Zepbound, which it named as key drivers of quarterly performance.
Foundayo recorded sales of $98 million in the second quarter of 2026, according to the product revenue table published as part of Eli Lilly's results. The financial results also included an increase in the company's revenue forecast for 2026 to a range of $85.0 billion to $87.0 billion. The updated forecast follows the quarterly revenue growth reported by the company and the start of commercial sales of Foundayo in the United States. Eli Lilly will announce its third-quarter 2026 results on October 29, 2026, according to its notice to investors. The company will hold its earnings call the same day at 10 a.m. U.S. Eastern time.