Eli Lilly and Co.
LLY,
said Thursday that its experimental obesity drug received a Fast Track designation from the Food and Drug Administration. The drug maker also said it plans to begin a rolling submission to the FDA for tirzepatide as a treatment for adults with obesity or who have overweight with related comorbidities. The submission will use data from two clinical trials, the final of which is expected to wrap up in April of next year. Tirzepatide has shown in clinical trials that it can help people lose up to 22% of their body weight. The same drug, under the name Mounjaro, has been approved to treat Type 2 diabetes. Lilly’s stock has gained 20.1% this year, while the broader S&P 500
SPX,
has declined 20.4%.
