Eli Lilly (LLY) Stock: Pharma Giant Eyes €15 Billion French Biotech Deal While Weight Loss Drugs Dominate

TLDR

• Eli Lilly is preparing a €15 billion offer to acquire French biotech company Abivax, awaiting French Finance Ministry guidance on foreign investment controls
• Tirzepatide generated $24.8 billion in revenue through the first nine months of 2025, overtaking Keytruda as the world’s best-selling medicine
• Orforglipron, an oral weight loss candidate, received regulatory fast-track approval and could gain approval by the end of February 2026
• Retatrutide delivered 28.7% mean weight loss in phase 3 trials, the highest performance seen in the industry
• Eli Lilly trades at 33 times forward earnings with a P/E-to-growth ratio of 0.98, indicating potential value despite premium pricing

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Eli Lilly is preparing to submit a €15 billion acquisition offer for French biotech company Abivax. The U.S. pharmaceutical company has not yet presented a formal proposal to Abivax’s board.

Eli Lilly and Company, LLY

The deal awaits guidance from the French Finance Ministry. Eli Lilly wants clarity on whether the acquisition would face foreign investment control requirements before moving forward.

The potential acquisition would expand Eli Lilly’s presence in the French biotech sector. However, the company’s recent success comes primarily from its weight loss and diabetes treatments.

Tirzepatide has become a financial powerhouse for Eli Lilly. The drug, sold as Mounjaro for Type 2 diabetes and Zepbound for obesity, generated $24.8 billion in revenue through the first nine months of 2025.

This performance pushed tirzepatide past Keytruda to become the world’s best-selling medicine. Analysts project the drug could reach nearly $62 billion in sales by 2030.

Eli Lilly became the first healthcare company to reach a $1 trillion market cap last year. The stock has pulled back somewhat since hitting that milestone but maintains strong momentum.

New Weight Loss Treatments Coming Soon

Orforglipron represents the company’s next major launch. This oral weight loss and diabetes candidate completed phase 3 trials successfully in 2025.

The drug received a priority review voucher from regulators. This special designation cuts the typical review period from 10-12 months down to just one or two months.

Orforglipron is already under regulatory review. Eli Lilly expects a decision by the end of February 2026.

Competition in the weight loss market is heating up. Novo Nordisk recently won approval for the first weight loss pill, an oral version of Wegovy.

Other companies like Amgen and Pfizer are also developing competing treatments. But Eli Lilly’s clinical trial results continue to lead the pack.

Record-Breaking Weight Loss Results

Retatrutide delivered the most impressive weight loss results ever seen in the industry. The drug achieved 28.7% mean weight loss at the highest dose in phase 3 studies.

No other weight loss treatment has matched this performance level. The results strengthen Eli Lilly’s position as the top player in anti-obesity medications.

Tirzepatide has also earned approval for obstructive sleep apnea treatment. These additional indications expand the drug’s market potential beyond diabetes and obesity.

Eli Lilly’s stock currently trades at 33 times forward earnings. The healthcare sector average sits at 18.2 times forward earnings.

The company’s price-to-earnings-to-growth ratio stands at 0.98. This metric suggests the stock remains undervalued despite its premium pricing.

Eli Lilly’s revenue and earnings growth justify the higher valuation multiple. The company’s pipeline strength supports continued growth expectations.

The pharmaceutical giant maintains several growth drivers heading into 2026. Tirzepatide sales continue climbing while new treatments approach market launch.

Eli Lilly expects to hear back from French regulators about the Abivax acquisition in the coming weeks. The company awaits formal guidance before submitting its €15 billion offer to Abivax’s board.

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