Top News

• While Foundayo is now approved in the UK, it is not currently available through the National Health Service.
• Eli Lilly plans to seek a recommendation from the National Institute for Health and Care Excellence for Foundayo’s use as a weight-loss treatment, according to a report by the BBC.
• Foundayo is a GLP-1 receptor agonist that mimics a naturally occurring hormone that helps regulate appetite and blood sugar.

Eli Lilly’s (LLY) once-daily weight-loss pill Orforglipron, sold under the brand name Foundayo, has been approved in the U.K., making it the first country in Europe to authorize the GLP-1 tablet.

LLY shares were up over 2% at the time of writing.

Eli Lilly To Reportedly Seek NICE Recommendation

On Monday, the U.K.’s Medicines and Healthcare products Regulatory Agency (MHRA) approved Foundayo for weight loss and maintenance in adults with obesity, as well as certain overweight adults with at least one weight-related health condition. It can also be used to improve blood sugar control in adults with Type 2 diabetes.

Orforglipron is a GLP-1 receptor agonist that mimics a naturally occurring hormone that helps regulate appetite and blood sugar. Unlike injectable GLP-1 drugs, Foundayo is taken as a tablet once a day and can be taken at any time without food or water restrictions.

While Foundayo is now approved in the U.K., it is not currently available through the National Health Service (NHS) for weight management. Lilly plans to seek a recommendation from England’s National Institute for Health and Care Excellence (NICE) for its use as a weight-loss treatment, according to a report by the BBC on Monday.

Lilly’s GLP-1 Drugs Drive Q2 Beat

Foundayo was granted approval by the U.S. Food and Drug Administration (FDA) in April, adding to its strong weight-loss portfolio, which includes its blockbuster drugs Zepbound and Mounjaro.

Last week, Lilly’s second-quarter revenue jumped 48% year-over-year to $22.97 billion, beating Wall Street’s $20.69 billion estimate, driven largely by strong demand for Mounjaro and Zepbound, which grew 45% and 44%, respectively.

LLY Bulls Expect Record High This Week

Retail sentiment surrounding LLY on Stocktwits remained ‘extremely bullish over the past 24 hours, amid ‘high’ message volumes.

One user expects the stock to climb beyond $1,300 this week, in what would be its all-time high.

LLY shares have climbed 13% higher so far this year.

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