Pharmaceutical company Eli Lilly & Co. has made a significant stride in the battle for a share of the lucrative weight-loss drug market. The company's new oral medication, orforglipron, has reportedly proven highly effective in a mid-stage study, producing an average weight loss of 15% over the course of 36 weeks in trial participants suffering from obesity. The study, published in the New England Journal of Medicine on Friday, presents Eli Lilly with a significant opportunity to compete with rivals like Danish firm Novo Nordisk A/S and possibly Pfizer, which are also exploring the obesity drug market.
The success of orforglipron in clinical trials is critical given the staggering size of the weight-loss drug market, which is projected to generate as much as $150 billion in sales by 2031. The market has exploded recently, in large part thanks to the development of GLP-1 drugs, initially designed to treat diabetes but also effective for weight loss due to their ability to make patients feel full. Injectible medications like Novo Nordisk's Wegovy and Ozempic have dominated the market to date, but an effective oral medication like orforglipron could potentially give Eli Lilly an edge over competitors.
In the phase 2 trial of orforglipron, patients achieved between a 9.4% and 14.7% reduction in their body weight, depending on dosage. Nausea was the most common reported side effect, occurring in between 37% to 58% of patients depending on the dosage, while vomiting was reported by between 14% to 32% of patients. Lilly's Mounjaro injection is approved for diabetes and the company is currently seeking clearance from the US market to use it for weight loss, a move touted as potentially successful in generating billions of dollars in sales.
Novo Nordisk's own clinical trials found that its weight-loss shot, containing the active ingredient semaglutide, was equally effective and produced similar weight loss in participants over almost twice as long a period. The competition between the two pharmaceutical giants in this space, and potentially Pfizer if it enters the market, is expected to be fierce and will drive innovation in the industry.