Key facts
- Eli Lilly's oral weight-loss pill Foundayo received backing from the European Medicines Agency's committee.
- The drug is recommended for weight management and treatment of type 2 diabetes in adults.
Weight-loss drug developers line up to tap lucrative market as competition heats up
IN SHORT
The weight-loss drug market is projected to generate $100 billion in annual sales within the next decade, with numerous biotech firms vying for market share. Novo Nordisk and Eli Lilly currently dominate the sector, but companies like Pfizer, Roche, Amgen, Merck, Viking Therapeutics, Scholar Rock, AstraZeneca, Structure Therapeutics, and Boehringer Ingelheim are developing new treatments.
Key Numbers
$100 billionweight-loss sector annual sales in next decade
11%body weight loss for patients treated with Foundayo
$98 millionFoundayo sales in second quarter
Who's Involved
Eli Lilly
oral weight-loss pill Foundayo received backing from European Medicines Agency committee
European Medicines Agency
committee recommended approval of Eli Lilly's Foundayo pill
Novo Nordisk
developer of weight-loss drug Wegovy
↳ Why This Matters
Eli Lilly's Foundayo gaining EU backing intensifies the competition with Novo Nordisk in the rapidly growing weight-loss drug market, which is projected to exceed $100 billion annually by 2030. The oral nature of Foundayo may appeal to patients hesitant about injectable treatments.