Eli Lilly’s Foundayo weight-loss pill gets European approval recommendation

The European Medicines Agency’s committee on Friday has recommended approval of Eli Lilly’s weight-loss pill Foundayo-the second oral obesity drug to gain the agency's approval after Novo Nordisk’s Wegovy pill.

The key recommendations are now primarily being reviewed by the European Commission before it grants final regulatory approval to launch the drug in the region.

Novo and Lilly are striving to expand availability of their oral medications as they aim to secure a larger share of a market expected to outpace $100 billion by 2030.

Novo’s Wegovy pill generated 3.22 billion Danish crowns in the same quarter, and the pill is also available in the US, the UK and the UAE. On Friday, the EMA recommended a marketing approval for Foundayo for weight management and the treatment of type 2 diabetes in adults.

In this connection, Bernstein analyst Courtney Breen anticipates the rollout of the medication in the EU or obesity around the end of year.

According to Reuters, the pill for which Lilly has requested authorization in more than 40 countries contains orfoglipron-a GPL-1 receptor agonist that can help reduce appetite and hunger.

Unlike the Wegovy pill, Foundayo can be taken at any time with no food restrictions, a feature that Lilly has promoted as a primary benefit of the drug.