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:
Top Hunk! Tom Cruise, 61, proved he's still got it with THAT shirtless snapBeijing parks present 109 cultural events for Spring Festival holidayBarcelona extend Cubarsí contract to 2027FIFA vote awards Brazil 2027 Women's World CupCNN commentator and political adviser Alice Stewart dies at 58China, Vietnam crossBiden will deliver Morehouse commencement address during a time of tumult on US college campusesMan City hit top spot with emphatic win at FulhamFans joke Eddie Howe's Newcastle assistant Jason Tindall 'needs to LEARN' from Kevin NolanAncelotti faces goalkeeper dilemma ahead of CL final
2.7497s , 6574.5703125 kb
Copyright © 2024 Powered by Lilly rides Mounjaro, Zepbound to better ,Global Grooves news portal