Investing.com -- Eli Lilly & Co. (NYSE:LLY) plans to start selling its popular weight-loss medication, Mounjaro, in Hong Kong by the end of this year, potentially becoming the first drug of its kind available in the broader China region, Bloomberg News reported on Sunday.
The report said that the company has obtained approval from the Hong Kong government to market tirzepatide injections, under the Mounjaro brand, using a device called the Kwikpen.
The drug is cleared for long-term weight management as well as type 2 diabetes treatment, the report added.
While Mounjaro has already been approved in mainland China for both diabetes and weight loss, the exact launch date there remains uncertain. In contrast, competitor Novo Nordisk (NYSE:NVO) A/S currently offers its diabetes medication in both Hong Kong and mainland China, although its weight-loss version has yet to be introduced.
Bloomberg News previously reported on Lilly’s plans to bring Mounjaro to Hong Kong.
Highly effective weight-loss drugs like Mounjaro (also marketed as Zepbound) and Novo’s Wegovy have seen soaring demand globally, resulting in a shortage as supply struggles to keep up.
The Hong Kong launch is likely to spur demand, potentially drawing customers from mainland China where counterfeit versions of the injections are prevalent, the report added.
In response to the global supply limitations, Novo has stated it will limit initial sales of Wegovy in China, where the drug was approved in June, to maintain steady supply for other markets.
Novo’s Ozempic, cleared in China in 2021 for type 2 diabetes, has been purchased through online and gray-market channels by many Chinese consumers looking to lose weight, given its similar active ingredient at a lower dose.
In clinical trials, Mounjaro was shown to reduce body weight by up to 25% when combined with diet and exercise.
Side effects, experienced by at least 5% of patients, include nausea, diarrhea, reduced appetite, vomiting, constipation, indigestion, and stomach pain, the report said.