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:
More Chinese people hit road for Dragon Boat FestivalSpring Festival lantern fair combines tradition, creative displays to attract visitorsChina sees 160M domestic tourist trips during May Day holidayExploring ancient charms of Guizhou: A journey to Hongyang villageHumanitarian crisis in Gaza exposes Western double standard on human rightsChina launches 504Tyler Lussi keeps NC Courage undefeated at home in NWSLCultural events in Yanqing to mark Dragon Boat FestivalDubai plans to move its busy international airport to a $35 billion new facility within 10 yearsNative Youth Olympics: Alaska’s Indigenous teens emulate ancestors’ Arctic survival skills
2.9818s , 6503.0859375 kb
Copyright © 2024 Powered by Lilly rides Mounjaro, Zepbound to better ,Earth Encounters news portal