Lilly rides Mounjaro, Zepbound to better
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
Kristin Cavallari, 37, ignores critics of her age
Kristin Cavallari is enjoying a romantic rendezvous with her much younger cowboy lover Mark Estes in2024-05-21First Hong Kong tour group arrives in Beijing
Tourists of the first tour group from Hong Kong pose for a group photo at Beijing Capital Internatio2024-05-21China unveils ambitious plans to expand its space station
This screen image captured at Beijing Aerospace Control Center on Feb. 9, 2023 shows Shenzhou-15 tai2024-05-21World leaders extend Chinese New Year greetings
As the Chinese Lunar New Year, also known as the Spring Festival, approaches, a number of world lead2024-05-21Not so Cool Britannia! Noel Gallagher gives damning verdict on Keir Starmer
Noel Gallagher has insisted he would still back Tony Blair for PM - as he warned Keir Starmer not to2024-05-21President Xi Jinping's Letter Presented to American Students
Contact Us HomeNewsHighlightACWF NewsSocietyWom2024-05-21
atest comment