Eli Lilly's Says Inventory For Diabetes Mounjaro Is Available, Probably Ending Shortage - Eli Lilly and Co (NYSE:LLY)

Eli Lilly And Co LLY said that all doses of its new diabetes drug Mounjaro (tirzepatide) were now available, with wholesalers having inventory after a two-month-long shortage.
Due to its potential to help patients lose weight, doctors recommend Mounjaro for that purpose even though it has not been explicitly approved as an obesity treatment in a common practice known as off-label prescribing, according to a report by Bloomberg.
The FDA first listed a shortage of Mounjaro in mid-December. The agency says the drug is now available but hasn't formally declared the shortage over.
"Because Mounjaro is still a launch product with dynamic demand, some pharmacies may continue to experience intermittent delays from time to time," Eli Lilly told Reuters.
The FDA approved Mounjaro in May 2022 for type 2 diabetes patients to manage blood sugar levels.
The company anticipates the drug to get a nod for obesity. The FDA has granted Fast Track designation for tirzepatide for adults with obesity or overweight with weight-related comorbidities.
Related: Lilly's Tirzepatide Shows Up To 22.5% Weight Loss In New Phase 3 Readout.
Price Action: LLY shares are down 0.33% at $326.45 on the last check Wednesday.