Eli Lilly and Company received U.S. FDA approval for the Zepbound KwikPen, a multi-dose injector for its weight-loss medication. This new device delivers four doses per pen to improve patient convenience and potentially lower treatment costs.
The approval coincided with a clinical setback for rival Novo Nordisk. Its experimental drug, CagriSema, failed to match the effectiveness of Zepbound in a head-to-head clinical trial.
Eli Lilly's stock surged 4.86% following these developments. Conversely, shares of Novo Nordisk plunged by more than 16%.