business

Lilly rides Mounjaro, Zepbound to better

Font size+Author:Stellar Standpoint news portalSource:business2024-05-01 06:05:42I 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
  • EMMA COWING: Humza Yousaf's obsession with gender politics showed an absolute contempt for women

    EMMA COWING: Humza Yousaf's obsession with gender politics showed an absolute contempt for women

    2024-05-01 05:55

  • China News Jack Ma: Alibaba's founder turns up in Japan as college professor

    China News Jack Ma: Alibaba's founder turns up in Japan as college professor

    2024-05-01 05:02

  • VOX POPULI: Manga artist exposes the juicy dynamics behind ‘oden’ factions

    VOX POPULI: Manga artist exposes the juicy dynamics behind ‘oden’ factions

    2024-05-01 04:26

  • Public servants want to know if management positions will be on the chopping block

    Public servants want to know if management positions will be on the chopping block

    2024-05-01 04:04

Netizen comments