Eli Lilly seeks approval for obesity drug in the US

The company employs around 2,300 in Ireland

Eli is headquartered in the US but has a base in Kinsale, Co Cork.

Pharmaceutical company Eli Lilly plans to seek approval for its obesity drug tirzepatide in the US.

The multinational reported that the drug helped patients lose more than 20% of their weight in a late-stage clinical trial, prompting analysts to increase their peak sales estimate for the drug.

Obesity is a major health concern in the US, with the disease estimated to have affected more than 40% of the population and cost nearly $173bn (€175bn) annually, according to data from the Centres for Disease Control and Prevention.

The US Food and Drug Administration had already approved tirzepatide, under the brand name Mounjaro, for the treatment of type 2 diabetes in May.

The company is headquartered in the US but has a base in Kinsale and Little Island in Co. Cork and employs around 2,300 across Ireland.

Earlier this year, the company announced plans to invest over €400m in a new manufacturing facility in Limerick.

- Reporting by Reuters and Irish Examiner