India, April 18 -- Eli Lilly's stock surged 16% after the company announced Phase 3 trial results for its oral weight-loss drug, Orforglipron, positioning it as a potential competitor to injectable treatments. Meanwhile, rival Novo Nordisk's shares dropped sharply.

Eli Lilly's shares (LLY) skyrocketed 16% on Thursday, making it the top performer in the S&P 500, after the company released positive clinical trial data for its experimental oral weight-loss drug, Orforglipron. The first of seven, the Phase 3 trials showed the drug outperformed a placebo in reducing both weight and long-term blood sugar levels (A1C), with stronger results at higher doses. The findings suggest it could rival Lilly's own injectable treatments, Mounjaro and Zepb...