Eli Lilly expects to launch its weight-loss drug, tirzepatide, in Hong Kong by the end of this year, according to a Bloomberg report on Sunday. The drug, branded as Mounjaro, has received government approval for use in both long-term weight management and type 2 diabetes. Tirzepatide will be available in the Kwikpen device for easy administration, broadening its accessibility. This comes after Eli Lilly received approval from Chinese regulators in July, setting the stage for intensified competition in the Asian market with Danish rival Novo Nordisk.

Both Novo Nordisk and Eli Lilly are racing to ramp up production to meet growing demand in the global weight-loss market, projected to exceed $100 billion by the decade's end. Both companies' weight-loss drugs fall under the GLP-1 agonist class, initially developed for diabetes, but now showing promising results for weight management. This race for market share among pharmaceutical giants highlights a significant shift in addressing obesity and related health challenges across the region.