The $100 billion slimming market has just been catapulted into the foreground as healthcare company Eli Lilly won US approval to use the active ingredient in its diabetes drug to treat obesity.

‘Zepbound’, its new weight loss drug will cost over $1000 for a month’s treatment cheaper than rival Novo Nordisk’s ‘Wegovy’ at over $1300 for a month’s supply.

Lilly was not allowed to market its diabetes drug ‘Moujaro’ for obesity prior to Wednesday’s approval.

Slimming treatments have boosted Lilly and Novo to record heights, with Lilly now being the most valuable healthcare in the world.  Lilly’s stock prices rose dramatically on Wednesday after the drug approval.