Eli Lilly Secures U.K. Approval for Foundayo Weight-Loss Pill

Eli Lilly (NYSE: LLY) received U.K. authorization for Foundayo, its oral weight-loss medicine, marking the drug’s first approval outside the U.S. and its entry into a market where Novo Nordisk (NYSE: NVO) already sells an oral version of Wegovy.

Foundayo, which contains orforglipron, launched in the U.S. in April and generated $98 million in second-quarter sales. Uptake has been slower than for Novo’s Wegovy pill. Lilly CEO David Ricks said in April that Foundayo was a new medicine that would require time to become established among doctors and patients. Novo’s oral Wegovy uses semaglutide, the same active ingredient found in the company’s injectable versions.

The companies are also competing on how their respective pills are taken. Lilly has emphasized that Foundayo, a small-molecule medicine, does not carry food restrictions. The Wegovy pill must be taken first thing in the morning with a small amount of water, with patients then required to avoid other food or drinks for at least 30 minutes. 

Novo entered the U.K. oral weight-loss market about two months before Lilly and has positioned Wegovy as the most effective oral option for weight loss.

The U.K.’s Medicines and Healthcare products Regulatory Agency said Monday that Foundayo was authorized by prescription for both weight management and type 2 diabetes. The decision makes it the second GLP-1 weight-loss pill in the European market. Initial access will be through private prescriptions. Before the treatment can be made available through the National Health Service, it must undergo a cost-effectiveness assessment by the National Institute for Health and Care Excellence.

Both Lilly and Novo have said oral weight-loss medicines are expanding the overall market rather than serving only patients who previously used higher-priced injectable treatments.

Novo CEO Mike Doustdar said this month that pills could eventually represent a large portion of the weight-loss market, while describing the Wegovy pill rollout as still being in its early stages. He also pushed back against concerns about slowing momentum after second-quarter oral Wegovy sales were slightly below some analyst forecasts.

About Eli Lilly

Eli Lilly (NYSE: LLY) and Company is a pharmaceutical company founded in 1876 and headquartered in Indianapolis, Indiana. Its business includes medicines for diabetes, obesity and other chronic diseases.

 

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