Shares of Eli Lilly soared Thursday morning after the pharmaceutical giant announced a clinical trial of its once-daily weight loss pill, orforglipron, demonstrated effectiveness consistent with other injectable GLP-1 weight loss drugs, such as Lilly’s Mounjaro and Novo Nordisk’s Ozempic.

A new oral GLP-1 drug candidate could transform the diabetes and weight loss drug boom.Why it matters: Eli Lilly said on Thursday that its experimental pill — called orforglipron — is showing promising results and could serve as an alternative to blockbuster injectable medications like Ozempic and Mounjaro.