Eli Lilly’s experimental obesity pill, orforglipron, helped patients lose an average 12.4% of body weight at the highest 36-milligram dose in the 72-week, 3,127-person ATTAIN-1 Phase 3 trial. The once-daily oral GLP-1 agent met all primary and secondary endpoints, with nearly 60% of participants shedding at least 10% of their weight, but the results fell short of the 13–15% reduction many analysts expected and lagged trial data for Novo Nordisk’s oral version of Wegovy. Investors reacted swiftly: Lilly’s shares slumped as much as 14% on 7 August, their steepest one-day fall since 2000, erasing roughly $60 billion in market value and making the stock the largest drag on the S&P 500. Novo Nordisk rose about 8% on the day as the data eased competitive pressures in the race to market the first widely used weight-loss pill. The setback overshadowed strong quarterly earnings. Lilly reported second-quarter revenue of $15.56 billion, up 38% year-over-year and ahead of forecasts, with Mounjaro and Zepbound contributing $5.20 billion and $3.38 billion, respectively. Adjusted earnings climbed 61% to $6.31 a share, prompting the company to raise full-year revenue guidance to $60-62 billion and earnings guidance to $21.75-$23.00. Lilly said safety findings for orforglipron were consistent with the GLP-1 class—gastrointestinal events were the most common—and about 10% of high-dose patients discontinued treatment because of side effects. Despite the more modest efficacy, the company plans to file for regulatory approval of the pill later this year, arguing the convenience of an oral option could expand access and sustain its position in a market some analysts value at $150 billion by the early 2030s.