Friday's preliminary injunction request escalates legal proceedings initiated earlier this week.
Novo Nordisk said on Friday it is seeking a preliminary U.S. court injunction to immediately block obesity and diabetes drug advertisements by Eli Lilly , in a further escalation of the rivalry between the two groups.
Analysts have suggested retatrutide could become a blockbuster weight loss drug if approved. In January, TD Cowen analysts estimated retatrutide could generate $3.8 billion in sales in 2030, while GlobalData forecasts sales of $15.6 billion by 2031.
Eli Lilly is preparing application materials for its next-generation weight-loss drug, retatrutide, following data from two Phase 3 trials showing the treatment delivered substantial results.
Eli Lilly on Thursday said two more Phase 3 trials of its experimental obesity drug retatrutide showed positive results and it plans to submit an application to the U.S. Food and Drug Administration in the first quarter of next year.
Novo Nordisk has filed a lawsuit against Eli Lilly (LLY) in a US federal court, accusing its rival of running false and misleading advertising campaigns for its blockbuster diabetes and weight-loss drugs. The lawsuit, filed Tuesday in the US District Court for the District of New Jersey, alleges that Eli Lilly and Lilly USA violated federal and state false advertising and unfair competition laws, including the Lanham Act.
In the latest trading session, Eli Lilly (LLY) closed at $1, marking a -2.73% move from the previous day.
Lilly (LLY) has been one of the stocks most watched by Zacks.com users lately. So, it is worth exploring what lies ahead for the stock.
The three biggest US pharma names by market cap trade at very different setups right now: Johnson & Johnson (NYSE:JNJ | JNJ Price Prediction) at $247.02 screens as the most compelling on fundamentals, Eli Lilly (NYSE:LLY) at $1,156.63 looks fully valued, and AbbVie (NYSE:ABBV) at $244.11 appears stretched relative to its growth outlook.
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Health stocks had a strong week, with some big firms seeing drugs approved. Eli Lilly (LLY) reportedly neared an agreement to acquire a psychedelics company.