Eli Lilly said it received Food and Drug Administration approval for its treatment for moderate to severely-active Crohn’s disease, an inflammatory bowel disease that causes chronic abdominal pain.

Eli Lilly said on Wednesday the U.S. health regulator has approved its drug to treat adults with moderate-to-severe Crohn's disease, a type of chronic inflammatory bowel disease (IBD). The drug, branded as Omvoh,

Eli Lilly (NYSE:LLY) has received FDA approval for its drug Omvoh, also known as mirikizumab-mrkz, for the treatment of moderately to severely active Crohn's disease in adults. The drug was previously approved in 2023 for the treatment of moderately to severely active ulcerative colitis in adults.

Eli Lilly (NYSE: LLY) is the most valuable healthcare stock in the world, with a market capitalization of around $720 billion. For a while, it looked like it might be on track to be the first healthcare company to top a $1 trillion valuation,

The S&P 500 added 0.1% on Tuesday, Jan. 14, as tame wholesale inflation data provided a positive signal ahead of Wednesday's consumer price report.