Pharmaceutical company Eli Lilly announced promising clinical trial results for a daily pill to treat obesity and diabetes, a considerable advantage over other GLP-1-based weight-loss drugs that have to be injected on a weekly basis.

Eli Lilly ( LLY 0.89%) has been growing its sales at a good clip over the past year. This is partly thanks to Zepbound, a weight loss medicine that's already generating more than $1 billion in quarterly sales, although it was approved only in late 2023.