Eli Lilly's diabetes drug tirzepatide gets approval in China
) said on Tuesday its diabetes drug tirzepatide has received approval from Chinese regulators, setting up intensifying competition with its Danish rival Novo Nordisk last year.Tirzepatide is the active ingredient in the U.S. firm's diabetes drug Mounjaro and weight-loss drug Zepbound.
GLP-1 drugs have been shown to help patients lose on average as much as 20% of their weight, fuelling unparalleled demand. Skyrocketing demand for Zepbound drove Eli Lilly to raise its annual sales forecast by $2 billion last month. Mounjaro has been approved in the U.S. since 2022 for patients with type-2 diabetes to control their blood sugar levels. It was approved in the U.S. for weight loss under the brand name Zepbound late last year.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.
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