The US Food and Drug Administration on Wednesday approved a new obesity pill called Foundayo. Taken once daily, the pill is made by pharmaceutical company Eli Lilly, which also manufactures the popular weight-loss injection Zepbound.

Foundayo is a type of medication known as a GLP-1 , a category that includes rivals Ozempic and Wegovy. These drugs mimic a naturally occurring hormone in the body that regulates blood sugar, slows digestion, and signals a sense of fullness to the brain.

It’s now the second GLP-1 pill for weight loss on the market. In December, Novo Nordisk received FDA approval for its pill form of Wegovy. The company’s original version of Wegovy is a weekly injectable.…