The agency's decision expands the use of Zepbound and could potentially pave the way for Eli Lilly to gain broader insurance coverage for the treatment.

The U.S. Food and Drug Administration on Friday approved Eli Lilly's weight-loss treatment, Zepbound, for obstructive sleep apnea, making it the first drug greenlighted to directly treat patients with the common sleeping disorder.

The weight-loss drugs battle has grabbed Wall Street's attention and stoked shares of Eli Lilly and Novo Nordisk. But others are coming.