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Aug 10 (Reuters) - Britain's medicines regulator on Monday authorised Eli Lilly's pill Foundayo for weight management and type 2 diabetes, making it the first country in Europe to green light the treatment.
Shares of the Indianapolis-based company were up more than 3% in afternoon trading.
"Whilst this tablet is approved for use in the UK, it is not available currently via the NHS," the Medicines and Healthcare products Regulatory Agency, or MHRA, said.
A Lilly spokesperson told Reuters Foundayo will launch in the UK later this month via private prescription. He added the pill would carry a lower UK list price privately than Mounjaro, which is listed at £399 pounds for a month's supply, but did not provide further details on pricing.
The weight-loss drug market, long dominated by injectable therapies from Eli Lilly and Novo Nordisk, is increasingly expanding into oral treatments. But while pills are gaining traction rapidly, injectables remain the market leaders, aided by their established efficacy and once-weekly dosing schedules.
Lilly's GLP-1 tablet, a once-daily drug that targets the GLP-1 hormone, has been gaining momentum in the U.S. since its approval and launch in April, but still lags rival Novo Nordisk's Wegovy pill.
Foundayo's chief advantage is convenience as it can be taken once daily without food or water restrictions, while the Wegovy pill requires patients to take it on an empty stomach with a small amount of water and wait 30 minutes before consuming food, beverages or other medications.
(Reporting by Prerna Bedi and Padmanabhan Ananthan in Bengaluru; Editing by Leroy Leo)
