FDA Approves Lilly's Once-Weekly Insulin Onswik for Type 2 Diabetes
LLY sits 61% above its 52-week low of $712.05.
Summary
The FDA approved Lilly's Onswik, a once-weekly basal insulin for adults with type 2 diabetes. This is the fourth global approval for the drug, following EMA, Mexico, and Japan. Onswik reduces injections from 365 to 52 per year, a meaningful convenience advantage over daily basal insulins. The approval is based on the QWINT Phase 3 program involving over 3,400 patients, where Onswik met non-inferiority for A1C reduction. Lilly plans a U.S. launch in the coming months with two KwikPen concentrations.
At the time of this announcement, LLY was trading at $1,148.57 on NYSE in the Life Sciences sector, with a market capitalization of approximately $1.1T. The 52-week trading range was $712.05 to $1,292.65. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: PR Newswire.