Eli Lilly rises after UK regulator approves weight-loss drug
LLY•LLY•LLY•LLY•** Shares of Eli Lilly LLY.N rise 2.2% to $1,211.82 after the UK's regulator approves its weight-loss drug.
** LLY is on track for its biggest daily percentage gain since Aug. 5.
** The Medicines and Healthcare products Regulatory Agency authorized Foundayo for weight management and type 2 diabetes, becoming Europe's first country to do so.
** LLY's obesity and diabetes drugs have been gaining momentum as the U.S. company battles with Danish rival Novo Nordisk NOVOb.CO for market share in the weight-loss industry.
** LLY's shares are up about 13% year to date, giving it a market value of more than $1 trillion, compared with about an 8% gain in the S&P 500 healthcare index .SPXHC.
