Next year, the weight loss pill is predicted to gain approval from Eli Lilly CEO.

• David Ricks, CEO of Eli Lilly, anticipates that the company's experimental weight loss pill, orforglipron, will receive approval as early as next year, according to a report by Bloomberg.
• Both Eli Lilly and Novo Nordisk, leaders in the obesity injection market with Zepbound and Wegovy, are seeking to create new, advanced versions.
• Manufacturing a weight loss pill would be more convenient for patients.

On Monday, CEO David Ricks of the company stated to Bloomberg TV that he anticipates the approval of their experimental weight loss pill by early next year.

By the middle of this year, the company will release crucial late-stage trial data on the drug orforglipron.

Eli Lilly is striving to bring its pill to market, competing with both larger and smaller rivals for a significant portion of the growing weight loss drug market. Currently, Eli Lilly's Zepbound and Novo Nordisk's Wegovy hold a dominant position in the market. However, drugmakers and their competitors have been working diligently to develop enhanced versions of these drugs.

Patients would prefer pills over injectable forms as they are more convenient. Additionally, pills are easier to manufacture, which is beneficial for Eli Lilly and Novo Nordisk, who have been struggling to keep up with the increasing demand for drugs.

In a mid-stage trial, patients who took orforglipron lost up to 14.7% of their weight, significantly more than the 2.3% weight loss observed in those who took a placebo, according to Eli Lilly.

Eli Lilly shares were trading about 2% lower on Monday.