Eli Lilly and its rivals are working to develop more convenient options than the injectable Zepbound and Wegovy, which dominate the weight loss drug market.

Eli Lilly (LLY) reduced its fourth-quarter sales guidance by 5%, lowering expectations to $13.5 billion. This figure is $400 million below the low end of the company’s prior guidance and includes $3.5 billion from its type 2 diabetes drug Mounjaro and $1.

Eli Lilly shares dropped after the drugmaker cut its 2024 revenue guidance, citing lower-than-expected demand for its obesity and diabetes drugs.