Eli Lilly reported promising results from a study of its experimental oral drug that could rival popular injections to treat obesity and diabetes.

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.

People diagnosed with type 2 diabetes might benefit soon from Eli Lilly's new orforglipron weight loss drug following its latest clinical testing, the Indianapolis-based drugmaker announced Thursday.