Eli Lilly shares fell approximately 3% on Monday. An Evercore ISI analyst report triggered the decline.
The report highlighted a single case of hepatic failure linked to Foundayo, Lilly’s oral weight-loss drug. The FDA's Adverse Event Reporting System received the entry on April 30.
Evercore noted that similar liver-related adverse events have appeared in competing GLP-1 drugs. Foundayo previously established its liver safety profile during clinical trials.
The analyst emphasized that Eli Lilly must adjudicate this case to avoid market confusion.