Five Things You Need to Know to Start Your Day

Lilly gets FDA nod on its obesity drug. Disney tops profit estimates. Arm delivers its report card. Here’s what you need to know today.

Eli Lilly & Co. won US approval for its diabetes drug to treat obesity, unlocking blockbuster sales potential and sparking a battle for dominance of a market that’s expected to hit $100 billion by 2030. The weight-loss drug contains the same active ingredient as the firm’s diabetes product Mounjaro but will be branded as Zepbound and cost $1,059.87 for a month’s supply. That’s cheaper than Wegovy, a similar weight-loss drug made by Novo Nordisk A/S, which is $1,349 per month.