The newly developed weight-loss pill mirrors the functionality of a syringe in its effects.
In the ever-evolving landscape of the pharmaceutical industry, two major players, Novo Nordisk and Eli Lilly, are making waves with their groundbreaking developments in oral weight loss medications.
Novo Nordisk, a Danish pharmaceutical company, submitted an application for FDA approval of its GLP-1-based weight loss pill, Wegovy, in February. The company's tablets containing Semaglutid have shown similar effectiveness in treating obesity or overweight as the already approved injections. A study on the tablet version of Wegovy led to an average weight loss of 16.6% in patients over 64 weeks, a figure comparable to previous study results around the Wegovy injection.
Meanwhile, Eli Lilly announced in early 2023 its intention to file an application with the FDA for approval of an oral GLP-1-based weight loss pill called Orforglipron. The company expects a decision by the end of the year and has already started production of the pill in the US. Orforglipron led to an average weight reduction of 12.4% in a 72-week study with daily intake.
The growth of these oral weight loss medications is predicted to be substantial. Goldman Sachs estimates $95 billion for the weight loss medication market by 2030, while Morgan Stanley predicts a global volume of $150 billion by 2035. Observers expect these pills to account for about a quarter of the total market.
The pharmaceutical industry views weight loss pills as the next big thing, with tablets being easier to administer to patients than injections. However, developing such pills is challenging due to the GLP-1 hormone largely being destroyed in the stomach, requiring the active ingredient to reach the intestines.
Amidst this promising growth, both Novo Nordisk and Eli Lilly are facing challenges. The growth of Novo Nordisk is slowing due to high competition in weight loss medications. In an effort to cut costs, the company's new CEO, Mike Doustdar, has ordered a cost-cutting program resulting in 9,000 job cuts worldwide.
Eli Lilly, on the other hand, is facing competition from other pharmaceutical giants such as AstraZeneca and Roche, who are also working on developing weight loss tablets.
Investors have shown optimism towards these developments. On Thursday, the stock price of Novo Nordisk temporarily rose by almost 7% to 394 Danish kroner following the news of the FDA application submission. However, the stock price of Novo Nordisk has seen a 60% decline over the past 12 months.
Orforglipron can be taken at any time of the day and without restrictions on food or water intake, according to Eli Lilly, making it a convenient option for patients.
As these companies race to bring oral weight loss medications to market, the future of weight management in the pharmaceutical industry looks promising and dynamic.
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