Weight-Loss Drugmakers' Stocks Jump. Structure Therapeutics up 5%; Eli Lilly Rises 4% to Record High; Amgen up 3%; Roche, Novo up Around 2%

Weight-loss drugmakers' stocks jumped on Wednesday. Structure Therapeutics up 5%; Eli Lilly rose 4% to record high; Amgen up 3%; Roche, Novo up around 2%.

Eli Lilly has significantly reduced the price of its blockbuster weight-loss and diabetes medication, Mounjaro, in China, escalating its competitive battle with Novo Nordisk A/S and domestic competitors.

A one-month supply of the lowest Mounjaro dosage is now priced at 599 yuan ($85.79) on JD.com Inc.'s online marketplace, a dramatic reduction of nearly 70% from its initial launch price of 1,758 yuan last year. The highest dose now sells for 1,599 yuan, down sharply from 4,758 yuan. On Alibaba Group Holding Ltd.'s competing platform, final prices are even lower after the application of promotional coupons.

Danish drugmaker Novo Nordisk is launching its once-daily Wegovy pill in the United States on Monday, offering doses of 1.5 milligrams and 4 mg at $149 per month for self-paying patients in an intensely competitive weight-loss drug market.