ToplineThe Food and Drug Administration has approved Foundayo, Eli Lilly’s new GLP-1 pill to treat weight loss—the second oral weight loss drug to hit the market after Novo Nordisk’s Wegovy was greenlit last year.Lilly says Foundayo was approved to treat obesity and can lead to long-term weight loss, alongside diet and exercise.Getty ImagesKey FactsLilly confirmed the approval in a statement on Wednesday—meaning the FDA approved the new pill just months after the company submitted study data and applied for regulatory review in 2025.Foundayo is approved to treat obesity and can lead to long-term weight loss, the company said, if taken as part of a diet and exercise routine.Lilly touted the new pill as the only oral GLP-1 that can be taken without restrictions on eating and drinking (manufacturers tell patients taking Wegovy to wait 30 minutes before eating, drinking or taking another medication).The medication’s lowest doses will cost patients $149 per month out of pocket, but patients with insurance could pay as little as $25 per month, the company said, while Medicare Part D recipients could be eligible to pay $50 per month for the drug.Lilly’s stock price surged after the announcement, and was up 4.5% by 1 p.m.How Does Foundayo Work?Foundayo is the brand name for orforglipron, a GLP-1 agonist. GLP-1 agonists work by mimicking a hormone in the body’s small intestine, according to the Cleveland Clinic. By targeting this hormone, it reduces the appetite and can lead to weight loss.Key BackgroundInjectable GLP-1s have exploded in popularity since Novo Nordisk’s injectable Wegovy was approved for weight loss in 2021. However, high costs remain a concern for patients—an analysis conducted in 2023 found patients were paying over $1,000 a month for their prescriptions, Reuters reported. Foundayo’s approval comes only one day after Novo Nordisk launched a Wegovy subscription program, which aims to save injection users up to $1,200 per year and pill users $600 per year, according to the company.Correction (4/2): This article has been updated to reflect that Foundayo is the brand name for orforglipron.