Eli Lilly’s weight loss and diabetes drug tops Keytruda
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The results come as Eli Lilly works to maintain its edge over Novo Nordisk in the booming market for a class of obesity and diabetes drugs called GLP-1s.
Eli Lilly (LLY) stock rises after reporting that sales of its weight-loss drugs more than doubled in the third quarter. The pharmaceutical company also announced a partnership with Walmart (WMT) to make GLP-1s more accessible to consumers.
Eli Lilly partners with Walmart to sell its weight-loss drug Zepbound nationwide, giving patients easier, insurance-free access through LillyDirect.
U.S. sales of Lilly’s weight-loss treatment Zepbound nearly tripled, to $3.57 billion, in the third quarter. Meanwhile, revenue from the diabetes drug Mounjaro, which has been on the market longer, has doubled, to $6.52 billion, thanks to growth outside the U.S.
Eli Lilly said on Thursday its experimental weight-loss pill met most criteria for the U.S. Food and Drug Administration's new national priority voucher, suggesting it is a strong candidate for a significantly accelerated approval review.
Worth noting, CVS Caremark—the biggest PBM in the U.S.— announced in May that it would make Novo Nordisk’s rival drug Wegovy (semaglutide) the preferred obesity GLP-1 on its formulary. The move was expected to boost access to Wegovy in The States—albeit likely at the expense of that for Lilly’s Zepbound.