Lilly rides Mounjaro, Zepbound to better
Time:2024-05-01 07:45:51 Source:entertainmentViews(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:Brazil soccer player Gabriel Barbosa cleared by CAS to play during appeal in doping rules case
Next:FCC fines wireless carriers for sharing user locations without consent
You may also like
- Cupid's stunt snares fugitive, 27, and his mother, 51, in Cape Town following six
- OJ Simpson dies at 76 of prostate cancer
- Arizona's near
- A Toronto police officer was stabbed and a suspect shot. Both hospitalized in stable condition
- Jaguars cut WR Zay Jones, clearing a path to potentially sign five
- How immigrant workers helped stave off a US recession
- Argentina's populist president meets billionaire Elon Musk in Texas — and a bromance is born
- Bangladesh fire: At least 43 dead in Dhaka building blaze
- Free child care from higher taxes? These cities subsidize daycare