Eli Lilly's experimental GLP-1 pill shows promise in a Phase Three trial, helping users lose an average of 12% of body weight, potentially transforming diabetes and obesity treatment.

In a Phase 3 trial, drugmaker Eli Lilly and Company said it's oral GLP-1 pill showed similar results to injectable weight loss options after a 72-week period.

While orforglipron succeeded in a Phase 3 trial, its weight loss effects were more modest than investors and analysts anticipated, leading to a selloff in shares that erased about $100 billion in market value.