Eli Lilly CEO expects new weight loss pill to be approved next year
by Jacob Pramuk · CNBCKey Points
- Eli Lilly expects its experimental weight loss pill, orforglipron, to be approved as soon as early next year, CEO David Ricks told Bloomberg.
- Eli Lilly and Novo Nordisk, which dominate the market with their obesity injections Zepbound and Wegovy, respectively, are both looking to develop next-generation versions.
- A weight loss pill would offer more convenience to patients and would be easier to manufacture.
In this article
Follow your favorite stocksCREATE FREE ACCOUNT
Eli Lilly expects its experimental weight loss pill will get approved as soon as early next year, CEO David Ricks told Bloomberg TV on Monday.
The company is set to release key late-stage trial data on the drug, orforglipron, by the middle of this year.
Eli Lilly is pushing to get the pill to market as it competes with Novo Nordisk and smaller rivals for a major share of the booming weight loss drug market. Eli Lilly's Zepbound and Novo Nordisk's Wegovy dominate the space, but the drugmakers and their competitors have been working to develop improved versions of the drugs.
More CNBC health coverage
- FTC sues drug middlemen for allegedly inflating insulin prices
- Pfizer says drug for deadly cancer condition that causes weight loss shows positive trial data
- Gilead says its twice-yearly shot cut HIV infections by 96% in trial
Pills would be more convenient for patients than the current injectable forms. They would also be easier to manufacture at a time when Eli Lilly and Novo Nordisk have struggled to make enough drugs to keep up with spiking demand.
Eli Lilly has said orforglipron helped patients lose up to 14.7% of their weight in a mid-stage trial, compared with 2.3% among people who took a placebo.
Eli Lilly shares dipped slightly on Monday.
Don’t miss these insights from CNBC PRO
- Wall Street analysts see big gains for these Warren Buffett-owned stocks in 2025
- Dan Niles names cash as a top pick for the first time since market drop in 2022
- Morgan Stanley says rising rates are threatening the bull market so ride it out in these quality stocks
- Goldman adds three stocks to conviction list to start year, including one where it sees nearly 60% upside