Weight-Loss Race Kicks Into Gear With Second Pill Approved in US
Lilly’s Foundayo vs Novo’s Wegovy pill in the multibillion dollar obesity market
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Drugmakers have been on a buying spree, with bellwether pharmaceutical companies splurging on novel therapies that could one day replace aging blockbusters. Eli Lilly scooped up Centessa for $7.8 billion to move into sleep, Biogen is buying Apellis for $5.6 billion to expand in rare diseases and Novartis agreed to pay up to $2 billion for Excellergy, which is working on treatments for food allergies and immune conditions.