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Delayed Nasdaq Copenhagen  -  11:12 2022-07-01 am EDT
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U.S. FDA approves Eli Lilly's treatment for type 2 diabetes

05/13/2022 | 03:59pm EDT

May 13 (Reuters) - The U.S. Food & Drug Administration said on Friday it had approved Eli Lilly's injected drug tirzepatide, which has the brand name Mounjaro, to help improve blood sugar control in adults with type 2 diabetes.

The FDA said Mounjaro, along with diet and exercise, improved blood sugar levels and was more effective than the other diabetes therapies with which it was compared in clinical studies.

Mounjaro is designed to activate receptors for hormones involved in blood sugar control. It is administered by injection under the skin once weekly, with the dose adjusted as tolerated to meet blood sugar goals.

Lilly reported last month that a late-stage trial of tirzepatide showed that it helped obese patients lose more than 20% of their weight, leading Wall Street to boost sales forecasts for the drug.

Analysts currently project 2026 sales of tirzepatide to reach $4.7 billion, according to Refinitiv.

Similar diabetes drugs include Novo Nordisk's Ozempic, which is also approved by the FDA, under the brand name Wegovy, as a treatment for obesity.

Type 2 diabetes, the most common form of the disease, is a chronic and progressive condition in which the body does not make or use insulin normally, leading to high levels of sugar in the blood.

More than 30 million Americans have type 2 diabetes, according to the FDA.

Shares of Eli Lilly were down by a fraction of a percentage point at $291.40 in late trading on the New York Stock Exchange.

(Reporting by Mrinalika Roy in Bengaluru; Editing by Anil D'Silva and Marguerita Choy)

© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
NOVO NORDISK A/S -0.33% 784.6 Delayed Quote.7.10%
S&P 500 1.06% 3825.33 Real-time Quote.-20.58%
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Sales 2022 168 B 23 500 M 23 500 M
Net income 2022 53 541 M 7 487 M 7 487 M
Net cash 2022 1 841 M 257 M 257 M
P/E ratio 2022 33,3x
Yield 2022 1,47%
Capitalization 1 780 B 249 B 249 B
EV / Sales 2022 10,6x
EV / Sales 2023 9,27x
Nbr of Employees 49 295
Free-Float 69,6%
Duration : Period :
Novo Nordisk A/S Technical Analysis Chart | MarketScreener
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Technical analysis trends NOVO NORDISK A/S
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 26
Last Close Price 787,20 DKK
Average target price 813,00 DKK
Spread / Average Target 3,28%
EPS Revisions
Managers and Directors
Lars Fruergaard Jørgensen President & Chief Executive Officer
Karsten Munk Knudsen Chief Financial Officer & Executive Vice President
Helge Lund Chairman
Henrik Ehlers Wulff Senior Vice President-Diabetes API
Stephen Gough Global Chief Medical Officer
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