In addition to weight loss, participants also benefited from reductions in cholesterol, blood fats and blood pressure.

Dr Kenneth Custer of Eli Lilly said the company was planning to submit the drug for licensing before the end of the year and preparing for a “global launch to address this urgent pubic health need”.

So where might this weight loss pill fit in to the blockbuster multi-billion pound market dominated by injectable drugs like Mounjaro, Wegovy and Ozempic?

The pill is much less effective than injectables.

The 12% weight loss achieved by those taking orforglipron compares to 22% weight loss for patients on Mounjaro, given by weekly injection. Both drugs are made by Eli Lilly.

Despite being less effective, there is likely to be a significant market for weight loss pills, as a needle-free means of cutting obesity levels.

Obesity experts hope the oral drug will be far cheaper than current injectables which would make it available to many more patients.