Eli Lilly said its experimental pill was just as effective in weight and blood sugar management as Ozempic in a clinical trial for people with diabetes and expects to receive regulatory approval by the end of the year.
Following the release of the first of several studies, Ozempic’s stock has soared, boosting optimism that a simple and efficient treatment will be offered in a market dominated by injectable weight loss products.
In contrast, Novo Nordisk, which makes Ozempic, has decreased its share price by more than 50% over the last 12 months.
Notably, Eli Lilly stated that patients could lose more weight because their weight loss did not plateau by the end of the study.
Estimates that the market for treating obesity could grow to $150 billion in the coming years have prompted several companies to compete to develop weight-loss medications.
Eli Lilly has allayed worries by stating that orforglipron’s safety profile is comparable to other GLP-1 medications.
Eli Lilly stated that it intends to apply to international regulators for approval of a clinical trial for the diabetes medication next year. It anticipates reporting data from another clinical trial on orforglipron later this year.
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