opinions

Lilly rides Mounjaro, Zepbound to better

Font size+Author:Stellar Stories news portalSource:business2024-05-21 17:33:06I want to comment(0)

Rapidly climbing sales of the new obesity drug Zepbound and its counterpart for diabetes, Mounjaro,

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
  • Who is Jacob Zuma, the former South African president disqualified from next week's election?

    Who is Jacob Zuma, the former South African president disqualified from next week's election?

    2024-05-21 17:19

  • Man charged in transport of Masters golf tournament memorabilia taken from Augusta National

    Man charged in transport of Masters golf tournament memorabilia taken from Augusta National

    2024-05-21 17:11

  • Things to know as courts and legislatures act on transgender kids’ rights

    Things to know as courts and legislatures act on transgender kids’ rights

    2024-05-21 17:10

  • Italy's leader keeps the focus on migration on her fourth visit to Tunisia in a year

    Italy's leader keeps the focus on migration on her fourth visit to Tunisia in a year

    2024-05-21 15:02

Netizen comments