Eli Lilly's head of diabetes and obesity unit to retire

(Reuters) -Eli Lilly and Co said on Wednesday that the head of its diabetes and obesity division, Mike Mason, will retire by the end of the year after more than three decades with the drugmaker.

Mason oversaw the late-stage development of tirzepatide, Lilly’s potential blockbuster that is sold under the brand name Mounjaro for diabetes and is under U.S. regulatory review for obesity.

Lilly said Patrik Jonsson, president of Lilly USA, will take over Mason’s role.

The company’s shares were down 1% in premarket trading.

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