Eli Lilly Shares Rise on FDA Approval of Obesity Pill
Eli Lilly shares rose nearly 6 percent Wednesday after the FDA approved its oral obesity drug Foundayo. The pill will compete directly with Novo Nordisk.
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Shares of ELI LILLY & CO surged nearly 6% on Wednesday following news that the United States Food and Drug Administration (FDA) has approved its new weight-loss pill, Foundayo. The regulatory milestone is seen as a pivotal move for the pharmaceutical giant as it seeks to capture a larger share of the rapidly growing obesity treatment market.
