Lilly rides Mounjaro, Zepbound to better
Time:2024-05-22 01:55:42 Source:healthViews(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.
Previous:Bella Hadid goes braless in a thigh
Next:Student fatally shot, suspect detained at Georgia's Kennesaw State University
You may also like
- Amal Clooney played key role in ICC bid to request arrest warrants for Israeli PM and Hamas leader
- Severing of Sino
- Special envoy pushes for peace, stability in region
- Severing of Sino
- NBA playoffs: Edwards leads Wolves to 98
- China strongly condemns provocative visit of UK politicians to the island of Taiwan
- Trilateral talks to bolster ties
- Pressure mounts on Israel to spare Rafah
- Russian theater director and playwright go on trial over a play authorities say justifies terrorism