The news: Eli Lilly’s daily pill to treat diabetes and obesity delivered solid phase 3 results, making orforglipron the new frontrunner for an oral GLP-1 for weight loss.

The success gives Lilly a potential advantage in diabetes treatment. Orforglipron can be taken without food or water restrictions—unlike Novo Nordisk’s oral diabetes drug Rybelsus, which has to be taken on an empty stomach with a specific amount of water.

Lilly’s stock soared over 14% as the clinical trial results went public, while shares of rival Novo sank about 8%.