Novo Nordisk in focus as FDA approves Eli Lilly’s Foundayo

Shares of Novo Nordisk (NVO) are in focus at midday after the Food and Drug Administration approved Eli Lilly’s (LLY) GLP-1 pill. Eli Lilly announced on Wednesday that the FDA approved Foundayo for adults with obesity, or overweight with weight-related medical problems. “When used alongside a reduced-calorie diet and increased physical activity, Foundayo helps individuals lose excess body weight and keep the weight off.” Lilly said Foundayo will be available via LillyDirect, with prescriptions accepted immediately and shipping beginning April 6, followed shortly after by broad availability through U.S. retail pharmacies and telehealth providers. The company said in a statement that it is “committed to making Foundayo accessible and affordable. Eligible people with commercial insurance may pay as little as $25 per month with the Foundayo savings card. Individuals opting for self-pay can access Foundayo starting at $149 per month for the lowest dose. Additionally, eligible Medicare Part D individuals may be able to get Foundayo for $50 per month, beginning as soon as July 1.” The launch of Foundayo will come only about three months behind Novo Nordisk’s Wegovy pill. At middday, shares of Novo Nordisk are about flat at $36.83.