China has approved US pharmaceutical giant Eli Lilly’s weight-loss pill orforglipron, making it the country’s first available oral GLP-1 treatment for obesity as global drug makers seek to tap the country’s massive weight-management market. China’s National Medical Products Administration announced the approval on Thursday, saying that the once-daily pill, marketed as Foundayo, could be used for chronic weight management by obese or overweight adults. GLP-1 receptor agonists are synthetic...