According to the data and analytics company, the recent rally in Eli Lilly’s market value, surpassing Johnson and Johnson to become the most valuable pharmaceutical company in the world with a market cap of $420 billion, has come as a result of Mounjaro successfully completing its second final-stage trial for obesity.
There have been several phase 3 trials for Mounjaro, with SURMOUNT-1 demonstrating a weight loss of up to 22.5% of patients’ body weight (52lbs or 24kg) and greater than 50% of patients taking Mounjaro achieving at least 20% body weight reductions.
Akash Patel, pharma analyst at GlobalData, said: “Lilly’s blockbuster therapy to tackle the global obesity pandemic will undoubtedly gain widespread adoption by patients and providers. The therapy will likely prove a popular alternative to bariatric surgery, as Mounjaro has been found to have the equivalent weight loss compared to it.”
“Mounjaro’s approval in 2022 for T2D has already led to many prescribers providing the therapy off-label to their patients to help them lose weight.”
Lilly reported FY2022 sales of approximately $500 million for Mounjaro for T2D in the US and EU, but this is expected to increase significantly in 2023 due to strong demand for the drug for both T2D and obesity.
A decision from the FDA, regarding the treatment of Mounjaro for obesity, is possible later this year with Lilly currently finalizing an application for fast-track approval.
Patel concludes: “Key opinion leaders (KOLs) have reported that they have not seen a drug with similar efficacy in terms of weight loss and are highly keen to prescribe the therapy for patients with T2D and obesity, or those with obesity and high risk for T2D and other cardiorenal comorbidities.”
The news comes after Bloomberg Intelligence recently revealed that sales of anti-obesity drugs could hit $44 billion in 2030 vs. $2.5 billion in 2022, with just under 70% stemming from the US.