Mounjaro, Zepbound pour money into Eli Lilly, fueling a better-than-expected second quarter, ET HealthWorld

[Pelican Press 0]

This is the hidden content, please

• Sign In
• or
• Sign Up

Mounjaro, Zepbound pour money into Eli Lilly, fueling a better-than-expected second quarter, ET HealthWorld

data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///ywAAAAAAQABAAACAUwAOw==

Indianapolis: Eli Lilly blew past second-quarter expectations with the diabetes treatment Mounjaro and its weight loss counterpart Zepbound funneling more than $4 billion in sales to the drugmaker.

Lilly also hiked its forecast for the year well beyond Wall Street expectations as newer drugs like Zepbound built momentum.

The company’s shares soared Thursday after Lilly detailed its quarterly results.

Mounjaro sales more than tripled in the quarter to nearly $3.1 billion. Zepbound, which is made from the same molecule, brought in $1.2 billion two quarters after regulators approved the *****.

Leerink Partners analyst David Risinger noted that insurance coverage of Zepbound is improving, and Mounjaro sales outside the ******* States exceeded expectations.

Supply problems that hampered access earlier this year also appear to be easing. Lilly noted that all doses of Zepbound are currently listed as available on a U.S. regulator website that details ***** shortages.

However, Lilly CEO David Ricks cautioned that patients could still encounter delays when filling prescriptions. He told analysts on a conference call Thursday that while Lilly can fill orders as it receives them, that doesn’t mean that pharmacies will have all 12 doses of Mounjaro and Zepbound available.

The CEO noted that this may not be feasible for the stores, and some customers may have to wait a few days until their orders are filled.

Overall, Lilly’s profit rose 68 per cent to $2.97 billion in the second quarter. Revenue climbed 36 per cent to $11.3 billion. Adjusted earnings totaled $3.92 per share .

Analysts expected earnings of $2.74 per share on $9.97 billion in revenue, according to FactSet.

TD Cowen analyst Steve Scala said in a separate note that nearly all of the company’s key products beat sales expectations for the quarter. That list includes the insulin Humalog, with $632 million in revenue.

Lilly now says its adjusted earnings should range between $16.10 and $16.60 for the year. That’s more than $2 higher than the Wall Street consensus for $13.69.

Lilly also had raised its forecast beyond expectations when it reported first-quarter results in April.

FactSet says analysts expect Mounjaro and Zepbound to bring in more than $15 billion in combined sales this year. That combination could top $40 billion annually by the end of the decade.

Shares of Indianapolis-based Eli Lilly and Co. jumped more than 9 per cent to $845.42 Thursday afternoon. The Standard & Poor’s 500 index rose more than 2 per cent .

The stock has already set several new all-time high prices this year, the latest happening last month when shares reached $966.10.

• Published On Aug 9, 2024 at 08:29 PM IST

Join the community of 2M+ industry professionals

Subscribe to our newsletter to get latest insights & analysis.

data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///ywAAAAAAQABAAACAUwAOw==

Download ETHealthworld App

• Get Realtime updates
• Save your favourite articles

data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///ywAAAAAAQABAAACAUwAOw==

data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///ywAAAAAAQABAAACAUwAOw==

Scan to download App
data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///ywAAAAAAQABAAACAUwAOw==

This is the hidden content, please

• Sign In
• or
• Sign Up

#Mounjaro #Zepbound #pour #money #Eli #Lilly #fueling #betterthanexpected #quarter #HealthWorld

This is the hidden content, please

• Sign In
• or
• Sign Up

This is the hidden content, please

• Sign In
• or
• Sign Up