Look Out, Ozempic and Wegovy: Eli Lilly Has a New Weight-Loss Drug in Town

You won't find many hotter healthcare stocks these days than Novo Nordisk (NYSE: NVO). Shares of the big pharmaceutical company have skyrocketed by 50% so far in 2023. Those gains have been driven by one drug (semaglutide) that's marketed under two brand names -- Ozempic and Wegovy.

However, there was big news this week that just might alter Novo Nordisk's trajectory somewhat. Look out, Ozempic and Wegovy: Eli Lilly (NYSE: LLY) is bringing a new weight-loss drug to town.

On Wednesday, the Food and Drug Administration (FDA) approved Lilly's tirzepatide injection for chronic weight management. Lilly already markets tirzepatide under the brand name Mounjaro as a treatment for type 2 diabetes.

Source Fool.com