Lilly presents at the Morgan Stanley Global Healthcare Conference

Eli Lilly presented at the Morgan Stanley 24th Annual Global Healthcare Conference in New York on September 14, 2026, one of the few public forums where the company discusses its drug pipeline, pricing and sales plans between quarterly earnings calls ^[1]. The appearance came just days after Lilly paid its regular quarterly dividend ^[1].

The conference took place as Lilly reshapes how it prices its metabolic drugs. The company launched Foundayo, its oral drug orforglipron, in the United Kingdom on a private-prescription basis, making the UK the first European country to get access to the pill ^[1]. British regulators approved Foundayo on August 10, but coverage through the National Health Service still requires a separate review ^[1].

In the United States, Lilly has committed to offering Medicare beneficiaries Zepbound (tirzepatide) and Foundayo for no more than $50 a month, on top of cash-pay discounts through its LillyDirect platform ^[1]. On LillyDirect, a multi-dose Zepbound pen starts at $299 a month and Foundayo starts at $149 a month ^[1]. Through a separate platform called TrumpRx, Lilly is also offering Emgality at $299 per pen and Trulicity at $389 a month ^[1].

Alongside the pricing changes, the FDA expanded Mounjaro's (tirzepatide) label to allow its use for lowering cardiovascular risk in people with type 2 diabetes who are at high risk for heart problems ^[1]. Lilly also released one-year data from a Phase 3b study showing that combining Zepbound with Taltz produced sustained or improving results in patients who had both obesity and psoriasis or psoriatic arthritis ^[1]. Separately, the FDA stepped up enforcement against online sellers of unapproved peptide products after a legal push from Lilly connected to retatrutide, an investigational drug not yet approved ^[1].

Lilly's stock was trading at €989.60 heading into the conference, about 4.3% below its 50-day average of €1,033.56, and down from a 52-week high of €1,108.20 reached in mid-August ^[1]. The Morgan Stanley conference also featured other major drugmakers that day, including Vertex Pharmaceuticals, which discussed its kidney disease and rare endocrine pipeline ^[2].

Why it matters for patients

For patients in the US, the pricing structure matters more than the stock price. The $50-a-month Medicare commitment and the LillyDirect cash-pay prices for Zepbound and Foundayo describe what some patients may pay out of pocket or through Medicare, separate from what insurance plans charge ^[1]. The Mounjaro label expansion for cardiovascular risk reduction could open the drug to a broader group of people with type 2 diabetes who have high heart-disease risk, a decision that would involve a conversation with a prescriber ^[1]. The FDA crackdown on unapproved peptide sellers tied to retatrutide is relevant to anyone considering products marketed online as GLP-1 alternatives, since those products have not gone through FDA review ^[1].

What is not clear from the available reporting is what Lilly executives actually said at the September 14 conference itself. Investors reportedly wanted updates on how fast Foundayo sales are ramping up, the timing of a pending type 2 diabetes decision, and when retatrutide might be filed for approval, but none of the sourced material describes the company's specific answers to those questions.

What happens next

Lilly's next scheduled public update on these programs is expected at its third-quarter earnings report, though an exact date was not included in the available sources. Coverage of NHS access decisions for Foundayo in the UK, and any FDA action on retatrutide or a type 2 diabetes decision for orforglipron, would mark the next concrete milestones for US and international patients to watch.