Eli Lilly said it received Food and Drug Administration approval for its treatment for moderate to severely-active Crohn’s disease, an inflammatory bowel disease that causes chronic abdominal pain.

Eli Lilly said on Wednesday the U.S. health regulator has approved its drug to treat adults with moderate-to-severe Crohn's disease, a type of chronic inflammatory bowel disease (IBD). The drug, branded as Omvoh,

Eli Lilly (NYSE:LLY) has received FDA approval for its drug Omvoh, also known as mirikizumab-mrkz, for the treatment of moderately to severely active Crohn's disease in adults. The drug was previously approved in 2023 for the treatment of moderately to severely active ulcerative colitis in adults.

Eli Lilly and its rivals are working to develop more convenient options than the injectable Zepbound and Wegovy, which dominate the weight loss drug market.

The S&P 500 added 0.1% on Tuesday, Jan. 14, as tame wholesale inflation data provided a positive signal ahead of Wednesday's consumer price report.