Mangoceuticals refutes claims made by Lilly in weight-loss drug lawsuit

Mangoceuticals (NASDAQ:MGRX), which operates the men’s health platform MangoRx, said it strongly refutes any and all claims made in a lawsuit filed against the company by Eli Lilly (NYSE:LLY) over a compounded version of Lilly’s popular weight-loss drug tirzepatide.

Lilly has accused MangoRx (MGRX) of improperly marketing an oral formulation of tirzepatide. Lilly (LLY) markets injected formulations of tirzepatide under the brand names Mounjaro and Zepbound.

“MangoRx (MGRX) believes it has strong arguments against Eli Lilly’s claims and intends to vigorously defend itself in this matter,” Mangoceuticals said in a statement.

Earlier Monday, Reuters reported that Lilly had filed lawsuits against three companies over the marketing of compounded versions of tirzepatide. The three companies are Pivotal Peptides, MangoRx (MGRX) and Genesis Lifestyle Medicine.

Mangoceuticals (MGRX) stock rallied in May after the company announced it planned to sell proprietary oral versions of Lilly’s (LLY) tirzepatide and Novo Nordisk’s (NVO) semaglutide, which is sold under the brand names Ozempic and Wegovy.

Mangoceuticals (MGRX) held its initial public offering in March 2023.