Lilly rides Mounjaro, Zepbound to better
Time:2024-05-21 18:01:14 Source:opinionsViews(143)
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.
You may also like
- Candice Swanepoel stuns in a form
- Virginia board votes to restore Confederate names to schools
- Ireland beat Pakistan in a T20 for the first time
- My husband died in a snorkeling accident in Hawaii
- Nadal returns to Roland Garros to practice amid doubts over fitness and form
- Families with TWO retired generations will surge to one million in a decade
- Migrants who attempted to set up tent encampments in Dublin were 'chased out by locals'
- Mock coffins fill a square in Milan in a protest over workplace safety in Italy
- Medics remove 150 MAGGOTS from a woman's mouth after dental procedure left her with rotting tissue