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:
Hush money trial: Trump faces prospect of additional sanctions for violating gag orderF1 'ten years' away from more Chinese drivers, ZhouJerry Seinfeld nearly tried to coax Daniel DayChina's star swimmers make final sprint for Paris 2024Zayn Malik sends fans crazy as he announces his first ever solo gigDrew Barrymore dramatically BEGS for help with her 'triggering' 11Katie Holmes goes makeupImanaga stellar again, Cubs hang on to edge Mets 1New Big 12 out to prove bigger bank accounts don't always mean better football teams in 12LeBron James speaks out on NBA future after the Lakers' playoff elimination by the Denver Nuggets
3.7533s , 4666.8515625 kb
Copyright © 2024 Powered by Lilly rides Mounjaro, Zepbound to better ,Worldly Wonders news portal