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The list price of tirzepatide for weight loss is $1,059.87 per month for six different dose sizes, which is about 20% lower than that of Wegovy, Eli Lilly said in a press release.

Eli Lilly says its working to expand its manufacturing capacity, to ramp up in anticipation of approval. As with any medication, tirzepatide has some side effects.

Shares of Eli Lilly and Co. rose during trading Wednesday following the news. Tirzepatide was previously approved to treat Type 2 diabetes and was sold under the brand name Mounjaro.