Hims has halted development of its $49 daily weight-loss pill, prompting a 3% surge in Novo Nordisk shares. This move removes a low-cost competitor from the GLP-1 weight-management space, potentially easing pricing pressure for established players like Eli Lilly.

Eli Lilly entered a strategic collaboration with Innovent Biologics to co-develop and commercialize undisclosed therapeutic candidates, targeting Greater China and global markets. Although financial terms and specific assets remain confidential, the deal underscores Lilly’s push to expand its pipeline and strengthen its presence in Asia.