The positive data gives Eli Lilly the green light to file the drug with the FDA by the end of the year for a weight loss indication.

Eli Lilly & Co. shares surged after data showed its experimental weight-loss pill worked as well as the Ozempic shot, bringing it one step closer to developing a needle-free alternative to injections.

Lilly said it would report data from another trial for the pill for weight management later in the year. It plans to file for approval with global regulators for weight loss by end of this year and for diabetes next year.