Denmark's Novo Nordisk forecasts 27% sales surge but faces price pressure amid Eli Lilly competition [Fortune]
Eli Lilly and Company (LLY)
Last eli lilly and company earnings: 4/23 06:25 am
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Source: Fortune
More than 25,000 patients are now starting on the treatment each week in the US, Chief Executive Officer Lars Fruergaard Jorgensen said Thursday. That's up from about 5,000 in December. Ramping up production is a key element of Novo's strategy as it battles Eli Lilly & Co. for supremacy in the weight-loss market. The pharma company is doubling its investment in manufacturing capacity this year to about $6.4 billion — a figure that doesn't include the planned $11 billion acquisition of three factories originally owned by contract manufacturer Catalent Inc. Demand for the obesity blockbuster and its sister medicine for diabetes Ozempic prompted the Danish company to increase its forecast on Thursday, saying sales could surge as much as 27% and operating profit by as much as 30% this year. The shares fell 2.3% in early trading in Copenhagen. They have surged about 25% this year and almost doubled since the start of 2023. Wegovy Sales Price pressure on Wegovy in the US held bac
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LLY
Earnings
- 4/30/24 - Beat
LLY
Sec Filings
- 5/9/24 - Form 8-K
- 5/3/24 - Form SD
- 4/30/24 - Form 10-Q
- LLY's page on the SEC website