New York, March 1, 2026, 11:19 EST — Market has shut for the day.
- Eli Lilly jumped 2.93% Friday to finish at $1,051.99, halting a three-day losing streak.
- Lilly’s Olumiant picked up support from a European medicines panel for expanded use in treating severe alopecia areata in teens.
- Eyes turn to the March 2 conference, where investors hope for updates on pricing, supply, and what’s next in the pipeline.
Eli Lilly and Co closed out Friday with a 2.9% gain to $1,051.99, bucking the broader market’s weakness as traders digested a fresh regulatory move in Europe tied to the company’s immunology lineup.
Lilly’s stock, now a crowded play fueled by years of bullish growth bets, got a fresh catalyst. Investors have begun rewarding tangible signs the company is expanding its engine past its headline metabolic drugs.
U.S. markets are closed for the weekend, so traders are eyeing Monday for potential moves in healthcare and any hints about the pace at which payers and competitors are pushing on price.
The European Medicines Agency’s Committee for Medicinal Products for Human Use (CHMP) has thrown its support behind an expanded indication for baricitinib, known commercially as Olumiant. The change would enable the drug to be prescribed for severe alopecia areata in adults and adolescents 12 years and up across the European Union. Alopecia areata, an immune disorder, can result in significant hair loss.
Lilly and Incyte reported that in their Phase 3 BRAVE-AA-PEDS trial, 42.4% of adolescents receiving the 4 mg dose achieved at least 80% scalp hair coverage after 36 weeks. Anabela Cardoso, an executive at Lilly, said the result “supports the potential expansion of Olumiant.” Dermatologist Thierry Passeron noted that families “are frequently left with limited options that fall short.” A European Commission decision, Lilly added, should arrive within the next one to two months. PR Newswire
Lilly shares climbed Friday, bucking declines in both the S&P 500 and Dow, with trading volume running hotter than usual. Even so, the stock stayed under its January peak.
Lilly’s outlook and robust appetite for its diabetes and obesity drugs have kept investors comfortable with paying up for the shares. The drugmaker is pointing to its metabolic portfolio as the engine for projected strong growth in 2026.
The pricing picture remains unsettled. Novo Nordisk, a key competitor, plans to lower U.S. list prices on Ozempic and Wegovy starting in 2027—a decision that’s fueled ongoing “price war” speculation for GLP-1 drugs, despite continued robust demand. Reuters
Olumiant belongs to a class of drugs that’s been under a harsh spotlight. Its U.S. label comes stamped with a boxed warning — the FDA’s most severe — flagging dangers like serious infections, cancer, major heart events, and blood clots. Those risks can keep prescriptions in check and could spell bigger trouble for sales if regulators or doctors decide to pull back.
Lilly CFO Lucas Montarce is set for a fireside chat at TD Cowen’s annual health care conference, slated for Monday, March 2, at 3:10 p.m. Eastern. Investors will be watching closely for any fresh signals on supply, pricing, and pipeline timing.
