Leadership at the U.S. Food and Drug Administration (FDA) has pushed to shorten the initial review of Eli Lilly's new weight loss pill from 60 days to as little as one week, following a request from the company. However, after internal criticism, a timeframe of two to three weeks is now being considered, depending on the complexity of the application, Reuters reports, citing internal documents.

If the proposal is approved, a decision on Eli Lilly's pill could come as early as March 28, compared to the current deadline of May 20.

Rival Novo Nordisk is expected to launch its pill in December or January.

The two companies dominate the obesity treatment market, which analysts estimate could be worth about $150 billion annually by the early 2030s.