Eli Lilly said its new obesity drug delivered more weight loss than any existing medication.
Patients taking the injectable, which aims to rival Novo Nordisk’s Wegovy, lost an average of 71 pounds, or 29% of their body weight in the late-stage trial. (Wegovy averages 15%.) Some lost so much weight they dropped out of the trial, and many reported relief from arthritis symptoms. Pharmaceutical giants are racing to deliver next-generation treatments, including pills, to dominate the burgeoning and lucrative weight-loss medication market.
However, Novo — a longtime industry leader — has posted disappointing clinical trial results and profit warnings, with its shares plummeting so far this year it’s almost “as if the obesity drug craze never happened,” Bloomberg wrote.
