Eli Lilly gets nod to sell weight-loss drug in Hong Kong by year-end – report
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Eli Lilly (NYSE:LLY) received approval from the Hong Kong government to launch its weight-loss drug—Mounjaro, with sales expected to begin as early as year-end, Bloomberg reported.
The company got approval to sell its tirzepatide injections—branded as Mounjaro—in a device called Kwikpen. Mounjaro is designed for long-term weight management and the treatment of type 2 diabetes. The drug is potentially the first of its kind to become available in the China region.
Lilly’s (LLY) shot has already been approved in mainland China for weight loss and diabetes, but it remains unclear when it plans to launch the product, the report said.
The recent approval intensifies competition with Danish rival Novo Nordisk (OTCPK:NONOF) in the lucrative Asian market. Novo Nordisk (OTCPK:NONOF) is already selling its diabetes drug in Hong Kong and mainland China, but its weight-loss version hasn’t been made available.
Amid a global shortage, Novo (OTCPK:NONOF) said it will limit Wegovy’s initial sales in China to prevent supply disruptions to other countries.