(Updates with details on shares and competitor.)
Eli Lilly & Co. erases earlier losses after winning regulatory approval for a closely-watched diabetes drug, Mounjaro, that will compete with Novo Nordisk’s Wegovy. Both drugs are tied to weight loss, though Lilly’s drug has shown an even larger impact in recent studies.
- NOTE: Friday is Lilly’s ex-dividend date.
- The US Food and Drug Administration said that the average person getting the highest dose of Lilly’s drug lost 12 more pounds than those getting Novo’s medicine; the average weight loss was also 29 pounds more than with insulin degludec and 27 pounds more ...