From NBC (National Broadcasting Company): 2024-04-30 11:04:23

Eli Lilly reported first-quarter adjusted profit exceeding Wall Street’s expectations, with a full-year guidance increase due to strong sales of Mounjaro and Zepbound. Revenue for the year is expected between $42.4 billion and $43.6 billion. Mounjaro and Zepbound demand surpassed supply, with significant production increases expected in the second half of the year.

With new weight loss treatment Zepbound on the market, Eli Lilly’s revenue surged to $8.77 billion for the first quarter, beating expectations. Shares rose by more than 5% as the company continues to see strong demand for their diabetes and weight loss drugs. Despite challenges, Eli Lilly’s stock reflects a positive trend this year.

Mounjaro and Trulicity, both leading diabetes drugs for Eli Lilly, missed analyst expectations for the first quarter. Mounjaro sales saw a significant increase to $1.81 billion, while Trulicity sales declined by 26%. Higher prices for Mounjaro helped boost revenue, but dynamics are expected to shift in the upcoming months as savings card programs end.



Read more at NBC (National Broadcasting Company): Eli Lilly (LLY) earnings Q1 2024