Eli Lilly's experimental oral GLP-1 obesity drug, orforglipron, demonstrated an average weight loss of 12.4% in a recent late-stage trial, which is lower than Novo Nordisk's injectable Wegovy that showed approximately 13% weight loss in a comparable trial. Despite raising its 2025 sales and earnings per share targets, Eli Lilly's stock experienced its largest single-day decline in 25 years, dropping around 14%. The disappointing trial results have impacted investor sentiment, with Novo Nordisk's shares rebounding in contrast. Eli Lilly has also completed a Phase 3 study of orforglipron in Japanese adults, potentially strengthening its position in the growing obesity treatment market. BlackRock is a major shareholder in Eli Lilly, holding about 6.8% to 6.9% of the company, which has significant business segments in diabetes/cardiometabolic, oncology, immunology, and neuroscience.