Rapidly climbing sales of the new obesity drug Zepbound and its counterpart for diabetes, Mounjaro, pushed Eli Lilly to a better-than-expected first-quarter profit.
The drugmaker also hiked its sales and earnings forecast for 2024 beyond Wall Street’s expectations even as it hustles to boost manufacturing and catch up to surging demand for the drugs.
Lilly said it was still dealing with supply issues that also hampered the company in the fourth quarter. Company officials expect that to persist through this year, but they emphasized Tuesday that help was on the way.
They expect significant manufacturing increases to occur, starting in the back half of the year.
CEO David Ricks told analysts Tuesday that Lilly was undergoing “the most ambitious expansion plan in our company’s history.”
Indianapolis-based Eli Lilly and Co. recorded $517 million in sales from Zepbound, which received approval from U.S. regulators last November. Total Mounjaro sales more than tripled to $1.81 billion from $568 million in last year’s quarter.
Related articles:
Related suggestion:
Forget the Triple Crown. Even the DerbyHundreds of proNetflix fans blast new romVietnam nominates its public security minister as new presidentTwins' Byron Buxton is back after 2Germany midfielder Pavlović injured in Bayern’s last game before Euro 2024Team Penske in spotlight as it prepares run for Indy 500 pole with Larson a serious contenderAccident in NW China's metro line test leaves 1 dead, 2 injuredWoman held on suspicion of assault after launching 20Chrissy Teigen looks stylish as she shops at Gucci after posing for Sports Illustrated cover
2.8312s , 6497.375 kb
Copyright © 2024 Powered by Lilly rides Mounjaro, Zepbound to better ,Global Glossary news portal