David Ricks, CEO of Eli Lilly and Company
Scott Mullin | CNBC
Eli Lilly and Company Chief Executive David Ricks expects approval of his experimental weight-loss drug as soon as early next year tell Bloomberg TV on Monday.
The company plans to release pivotal late-stage trial data for the drug, orforglipron, in the middle of this year.
Eli Lilly is working to bring the drug to market as it Novo Nordisk and smaller rivals vying for a major share of the booming weight-loss drug market. Eli Lilly’s Zepbound and Novo Nordisk’s Wegovy dominate the field, but drugmakers and their rivals have been working to develop improved versions of those drugs.
Pills would be more convenient for patients than current injections. Eli Lilly and Novo Nordisk will also be easier to produce at a time when they have been struggling to produce enough of the drug to meet growing demand.
Eli Lilly said orforglipron helped patients lose 14.7% of their body weight in a mid-stage trial, while those taking a placebo lost 2.3%.
Eli Lilly shares fell about 2% on Monday.
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