Eli Lilly ( LLY 0.89%) has been growing its sales at a good clip over the past year. This is partly thanks to Zepbound, a weight loss medicine that's already generating more than $1 billion in quarterly sales, although it was approved only in late 2023.

Eli Lilly said its new weight-loss pill had cleared a late-stage clinical trial, a promising sign as the company continues to face off with Ozempic maker Novo Nordisk. Eli Lilly said in a news release that its orforglipron pill had passed a Phase 3 trial with “statistically significant efficacy results” and a safety profile consistent with injectable obesity drugs that already are on the market.

A daily pill could be as effective for weight loss as popular drugs like Wegovy and Ozempic, providing an alternative to the injectable medications. The pill, orforglipron, is also a GLP-1 drug, working in a similar way to Ozempic,