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(Sharecast News) - Shares in Eli Lilly & Co were set to soar on Wednesday on the back of positive results of a late-stage trial of its weight-loss pill Orforglipron, which is thought to be a needle-free alternative to Novo Nordisk's popular injectable Ozempic drug.
Lilly said a Phase 3 trial of Orforglipron, which is a so-called oral GLP-1 receptor agonist, demonstrated "statistically significant efficacy results and a safety profile consistent with injectable GLP-1 medicines".
This was the first of seven Phase 3 studies looking at the safety and efficacy of Orforglipron across people with diabetes and obesity
Current GLP-1 drugs on the market, like Ozempic and Wegovy, target glucagon-like peptide-1, a hormone that helps regulate blood sugar and appetite and is used in the treatment diabetes and obesity.
However, Lilly's small molecule drug is expected to be much simpler to manufacture than injectables, which should increase access to the treatment. If approved, Lilly said it is confident in its ability to launch Orforglipron worldwide without supply constraints.
"As a convenient once-daily pill, Orforglipron may provide a new option and, if approved, could be readily manufactured and launched at scale for use by people around the world," said David Ricks, Lilly's chair and chief executive.
Lilly shares were rising 12.4% to $826 in pre-market trade on Thursday.
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