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:
Roger Corman, Hollywood mentor and 'King of the Bs,' dies at 98West Ham gives departing Moyes a winning sendoff at London Stadium with victory over LutonSkenes strikes out 7 in debut, Pirates hit 5 homers in 108 people were killed in a shooting attack at a bar in Ecuador, local police sayKlauss scores twice to rally St. Louis City to 3A top Cambodian opposition politician is charged with inciting disorder for criticizing governmentElection 2024: Trump calls the New York hush money case 'a Biden show trial'IPL leader Kolkata qualifies for playoffs after rainEDEN CONFIDENTIAL: Princess Beatrice's pal Alice NaylorAgyemang, Kahlina lead Charlotte to 1
3.3724s , 6504.96875 kb
Copyright © 2024 Powered by Lilly rides Mounjaro, Zepbound to better ,World Weaver news portal