Free daily briefing on global business news.

The U.K. regulator authorized orforglipron for weight management and type 2 diabetes, making Britain the first country in Europe to clear the drug

jetcityimage / Getty Images

Eli Lilly $LLY's oral weight-loss pill received its first European regulatory approval on Monday, when the U.K.'s Medicines and Healthcare products Regulatory Agency authorized orforglipron, sold under the brand name Foundayo, for weight management and type 2 diabetes.

The MHRA said the drug is approved for adults with a body mass index of 30 or above, or a BMI between 27 and 30 with at least one weight-related health condition, when used alongside a reduced-calorie diet and increased physical activity. It is also authorized to improve blood sugar control in patients with insufficiently controlled type 2 diabetes, the agency said.