The EMA recommended granting a marketing authorisation for Foundayo for weight management and treatment of type 2 diabetes in adults. The European Commission will now review the recommendation before the company can launch the drug. This move intensifies the rivalry between Novo and Lilly in the growing weight-loss drug market.
The European Commission will now review the recommendation and give a final nod before the company can launch the drug. Novo's Wegovy pill won EU approval in July.
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The race to broaden access to their oral drugs has become the latest battleground in Novo and Lilly's weight-loss drug rivalry, as both aim to secure a larger share of a market expected to surpass $100 billion by 2030.
The EMA recommended granting a marketing authorisation for Foundayo for weight management and treatment of type 2 diabetes in adults.
Reporting by Sriparna Roy and Siddhi Mahatole in Bengaluru; Editing by Tasim Zahid and Leroy Leo