US FDA approve Eli-Lilly's (LLY) Iluriyo in combination with Verzenio for adults with ER+, HER2-, ESR1-mutated advanced or metastatic breast cancer

The commercial question is sequencing rather than approval itself: ESR1-mutated disease is a resistance population that emerges after prior endocrine therapy, so the addressable market is defined by testing rates and where oncologists slot the combination against the existing oral SERD and CDK4/6 options rather than by headline prevalence. Approvals in this franchise have historically been priced well in advance through trial readouts and priority-review calendars, which is why the day-one equity reaction tends to be muted relative to the size of the indication; the precedent is that revenue accrues over subsequent quarters and shows up in launch-curve disclosures, not the approval tape. What carries informational weight now is the label's precise wording on prior-treatment lines and any companion-diagnostic requirement, since those details have repeatedly determined uptake speed in biomarker-segmented oncology. The follow-ons are the payer and formulary responses, the first quarterly script data, and whether competitors in the same mutation class adjust positioning.