Eli Lilly dips despite FDA confirming shortage of GLP-1 tirzepatide is over

Investing.com -- Eli Lilly was slightly lower Thursday even as the Federal Drug Administration confirmed that a shortage of the diabetes and weight-loss drug tirzepatide was over.

Eli Lilly and Company (NYSE:LLY ) was slightly lower in recent trading.

"FDA has determined that the shortage of tirzepatide injection products, which first began in December 2022, is resolved," the FDA said Thursday.

The FDA announced in October that a shortage of tirzepatide, the active ingredient in Eli Lilly’s diabetes and weight loss drugs Mounjaro and Zepbound — was over. The decision, however, was challenged by the Outsourcing Facilities Association, a trade group representing compounding pharmacies making generic or compounded versions of the tirzepatide, who said it was still in short supply. 

During the reassessment phase, compounding pharmacies were permitted to continue producing generic versions of tirzepatide, but now have 60 days to stop making compounded versions of the drug.

The FDA concluded that "that the information and data Lilly has provided to FDA demonstrate that Lilly’s supply is currently meeting or exceeding demand for these drug products."

Eli Lilly has also "scheduled substantial additional production over the coming months, such that supply will meet or exceed projected demand," it added.

Source: Investing.com