Eli Lilly shares drop after weight-loss 'wonder drug' disappoints

Lilly’s results from an obesity pill study showed lower weight loss and higher rates of nausea and vomiting

The Eli Lilly manufacturing plant in Kinsale. Investors say pills are a vital part of reaching more patients in the market that’s expected to grow to $95bn (€82.2bn) by 2030. File photo: Paulo Nunes dos Santos/Bloomberg

Eli Lilly shares fell as disappointing data on its new weight-loss pill overshadowed strong growth from the company’s current obesity medicine, which helped drive it to raise its yearly profit and sales outlook.

Lilly’s results from an obesity pill study, a drug key to unlocking billions of dollars of growth, didn’t perform as well as Wall Street expected. It resulted in lower weight loss and higher rates of nausea and vomiting, side-effects associated with so-called GLP-1 drugs. The data was a boon for rival Novo Nordisk.