US, UK regulators approve Eli Lilly weight-loss drug to rival Wegovy

The news: Regulators in the US and United Kingdom have approved a weight-loss drug expected to rival Novo Nordisk's Wegovy in a market expected to be worth USD100 billion ($155.9 billion) by 2030, Reuters reports.

The numbers: Eli Lilly's weight-loss treatment Zepbound will list at roughly USD1060 per month, a significant discount to the USD1349 cost for Wegovy, which is also hard to get due to supply constraints. Eli Lilly's stock price has surged 67% in 2023 ahead of the approval and gained more than 3% on Wednesday.

The context: The two treatments are reported to be the most effective weight-loss drugs approved to date, which will have ramifications for the sugary food and drink industries, along with companies providing treatments for obesity-related conditions such as type-2 diabetes and sleep apnoea.