INDIANAPOLIS, Oct. 11, 2024 —Based on a Nikkei Asia report, pharmaceutical giant, Eli Lilly (LLY, Financial) expects its weight-loss drug Zepbound to get regulatory clearance in Japan by mid-2025. In an interview, Lilly CEO David Ricks verified that the company's Zepbound application, which Japan's health regulators are processing, remains firmly on track for approval.
"We are confident the regulatory process is headed forward and we expect approval by the middle of next year," Ricks told Nikkei Asia. Once approved, Zepbound will join Japan's fast-expanding weight-loss market, facing direction competition from Wegovy, Novo Nordisk's (NVO, Financial) equivalent product that has been available in Japan since last year.
Nonetheless, Zepbound is a key growth catalyst for Eli Lilly's growing obesity treatment portfolio and has already been approved in the U.S. and Europe, among other territories. Moreover, with both companies fighting for supremacy in the multibillion-dollar obesity industry, we could see a healthy run-up in value in Eli Lilly stock once Zepbound nears approval.
Furthermore, Lilly is investing heavily in worldwide development as its obesity-related medications have become a major money-spinner. Also, Eli Lilly stock climbed 1.81% following the announcement.
