The battle for control of the global weight loss market is about to intensify with the United States Food and Drug Administration (FDA) approving Eli Lilly and Company's weight-loss pill Foundayo.
The decision means the United States-based pharmaceutical giant will go head-to-head with Danish rival Novo Nordisk for the millions of people seeking highly effective GLP-1 (glucagon-Like peptide-1) medicines.
Eli Lilly said the once-daily pill would be available from direct-to-consumer platform LillyDirect, with prescriptions accepted immediately and shipping starting on 6 April 6, and from pharmacies and on telehealth platforms “shortly after”.
The company will introduce Foundayo, the brand name for the drug orforglipron, only three months after Novo Nordisk’s Wegovy pill, setting the stage for the next battle between the rival drugmakers in the next frontier for GLP-1 drugs.
Novo Nordisk was the first to market GLP-1 drugs with its injectable medicines, including Ozempic for diabetes and Wegovy for obesity, but Eli Lilly dominates that U.S. market and was first to market with pills through Wegovy.
“It’s a big moment,” Eli Lilly Chief Executive Officer David Ricks was quoted as saying by CNBC.
He told reporters the drug had been submitted for approval in more than 40 countries.
"We do expect approvals yet this year in several major markets. The Gulf states are one of those areas that tend to move a little quicker, so that would be one," Ricks was quoted in this Reuters story as saying.
Estimates from FactSet show analysts expect Foundayo sales to reach $14.79 billion by 2030, compared to $24.68 billion for Eli Lilly’s weight loss drug Zepbound and $44.87 billion for its obesity and diabetes drug Mounjaro, according to Reuters.
UTHealth Houston Center for Obesity Medicine Director Deborah Horn said Foundayo delivered an average 12.4% weight loss at the highest dose in clinical trials, addressing the clinical realities of obesity and the practical challenges patients face every day.
"People living with obesity need treatment options that meet them where they are – and for many, a once-daily pill that can be taken with no food or water restrictions can offer them greater flexibility in how they approach their treatment," Horn said in an Eli Lilly news release.
Eli Lilly shares (NYSE: LLY) closed $34.75 (3.78%) higher at $954.52 on Wednesday (Thursday AEDT), capitalising the company at $901.85 billion.
Founded in 1876 by pharmaceutical chemist Colonel Eli Lilly, the company operates in more than 125 countries.
