Eli Lilly’s stock surged to a record high on Tuesday after a groundbreaking three-year study revealed that tirzepatide, the key ingredient in the company’s injectable weight-loss drug Zepbound and diabetes treatment Mounjaro, significantly reduced the risk of developing type 2 diabetes by 94%.
The study, which focused on patients with prediabetes and either obesity or overweight, demonstrated that those treated with tirzepatide lost an average of 22.9% of their body weight, compared to just 2.1% for those given a placebo.
Jeff Emmick, senior vice president of product development at Eli Lilly, highlighted the significance of these findings, noting that “obesity is a chronic disease that puts nearly 900 million adults worldwide at an increased risk of complications like type 2 diabetes.”
The positive results add to the growing list of benefits associated with tirzepatide and other GLP-1 receptor agonists, which also include reducing heart failure risk and managing sleep apnea.
Sales for both Mounjaro and Zepbound have been strong, with Mounjaro’s sales tripling year-over-year to $3.09 billion in the second quarter and Zepbound surpassing $1 billion in sales within its second quarter post-FDA approval.
Following the study’s release, Eli Lilly’s shares climbed 5% to a record high of $967 on Tuesday morning, before settling around a 3% increase. The stock has risen over 60% year-to-date, outpacing the S&P 500’s 17% gain.
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