Shares of Eli Lilly (NYSE: LLY) rose on Monday after the U.S. Food and Drug Administration (FDA) approved the pharmaceutical giant's new diabetes treatment, tirzepatide. As of 1:50 p.m. ET, Eli Lilly's stock price was up more than 3%. A phase 3 clinical trial showed tirzepatide to reduce A1C -- a key measure of average blood sugar levels -- better than existing treatment options.
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