Key Takeaways Eli Lilly lowered the price of two dosage levels of its weight-loss drug Zepbound for patients paying out of pocket.The company also launched new 7.5-mg and 10-mg single-use vials, which cost $499 when refilled every 45 days through Eli Lilly's new "Zepbound Self Pay Journey Program.

Eli Lilly & Co. said Tuesday that it has launched new doses of its obesity treatment drug and reduced its prices. The pharmaceutical company said it has launched 7.5 and 10 milligram single dose vials of its Zepbound drug,

Eli Lilly has cut the price for vials of its weight-loss drug Zepbound sold online and expanded the range of doses in an attempt to stave off stiff competition from compounding pharmacies and rival Novo Nordisk.

Eli Lilly said Tuesday that it will offer more doses of its obesity drug Zepbound in vials and lower the prices of the doses it already sells.

Weight-loss drugs aren’t just slimming waists; they create a $100 billion market opportunity. With plenty up for grabs, pharmaceutical giants like Eli Lilly and Company (LLY), Novo Nordisk (NVO), and Amgen (AMGN) are betting big on next-generation weight loss treatments to dominate this booming market.

Few big pharma stocks have been bigger winners over the last three years than Eli Lilly and Novo Nordisk. Lilly now ranks as the largest drugmaker in the world, with a market cap of $844 billion, after its shares skyrocketed more than 270%. Novo Nordisk stock is up around 75% despite a pullback in recent months.

Eli Lilly said on Tuesday it has begun selling higher doses of its popular weight-loss drug Zepbound in vials in the U.S. at a $150 discount to the cost of the injector pen versions, as it seeks to spur further demand for the medicine.

Eli Lilly is offering higher-dose vials through its direct-to-consumer website, LillyDirect, which started offering lower doses in vials in August.