Eli Lilly's Weight-Loss Pill Foundayo Gains EU Regulator Backing

Eli Lilly's oral weight-loss drug, Foundayo, has received a recommendation for approval from the European Medicines Agency (EMA). This marks the second oral obesity drug to gain EU backing, following Novo Nordisk's Wegovy pill .

Key points:

• EMA's committee recommended Foundayo for weight management and type 2 diabetes in adults .
• Patients in trials lost up to 11% of body weight .
• Foundayo is already launched in the US (April) and UK (August), generating $98M in Q2 sales .
• Lilly touts Foundayo's convenience, as it can be taken without food/water restrictions, unlike Wegovy .

This approval positions Lilly to compete in a market projected to exceed $100 billion by 2030, intensifying the race with Novo Nordisk for market share .