American pharmaceutical giant Eli Lilly is on track to receive approval for its weight loss drug Zepbound from the Japanese government by the middle of 2025, according to Chair and CEO David Ricks.
“It’s under review in Japan and we expect approval by the middle of next year,” Ricks told the Japanese newspaper Nikkei.
Eli Lilly has “eleven pipeline projects in obesity, by far the most of any company.
Eli Lilly Chair and CEO David Ricks
Global demand for obesity treatments has risen sharply in the last few years with Danish rival Novo Nordisk’s Wegovy leading the market. Novo Nordisk introduced Wegovy in Japan in February
Driven by the success of Zepbound, Eli Lilly has emerged as a leading global drugmaker with its market capitalization surging to $870 billion, surpassing Tesla’s market capitalization of of $770 billion.
Ricks expressed confidence in the company’s future noting that Eli Lilly has “eleven pipeline projects in obesity, by far the most of any company.”
Wegovy is a part of the GLP-1 class of diabetes medications but has gained widespread use for treating obesity. Zepbound, also a GLP-1 drug, will become the second such obesity treatment available in Japan if approved.
Zepbound, known scientifically as tirzepatide, helps promote insulin secretion and lowers blood glucose levels. Japan’s Ministry of Health, Labor, and Welfare has already approved tirzepatide for diabetes treatment, clearing a path for its use in obesity care.
Eli Lilly has partnered with Japanese pharmaceutical company Mitsubishi Tanabe Pharma for the domestic distribution and sales of Zepbound.
