From CNBC: 2024-10-30 15:54:17

Eli Lilly reported weaker-than-expected sales for weight loss drug Zepbound and diabetes treatment Mounjaro in Q3 after wholesalers cut inventory. The $3.11 billion Mounjaro sales missed the expected $3.7 billion, while Zepbound’s $1.26 billion fell short of the $1.76 billion estimate. Analysts question if inventory explains the entire revenue miss.

The company blamed the sales dip on wholesalers tapping into existing stock rather than buying more from Eli Lilly. Despite high demand, wholesalers destocked Zepbound and Mounjaro, causing a revenue decline. Eli Lilly invested billions to expand manufacturing capacity, which should help reverse the trend.

Demand for weight loss and diabetes injections exceeded supply, but supply chain issues have improved. FDA removed tirzepatide from the shortage list. Eli Lilly insisted there is strong demand for the medicines despite the sales dip. The company will start advertising and promoting Zepbound in November, including providing drug samples to health-care providers.



Read more at CNBC: Why sales of Eli Lilly’s Zepbound and Mounjaro fell short