How the CFOs of Eli Lilly and Novo Nordisk are coping with ‘unprecedented demand' for weight-loss drugs [Fortune]
Eli Lilly and Company (LLY)
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Source: Fortune
Ozempic is seeing stiff competition from Eli Lilly as both pharmaceutical giants grapple with surging demand for weight-loss drugs. Indianapolis-based Eli Lilly ( no. 142 on the Fortune 500) is the maker of Mounjaro, classified as Type 2 diabetes drug but which has led to weight loss among patients, and Zepbound, an obesity medication, approved by the FDA in November. The firm's Q1 revenue growth of 26% was driven by new products, primarily by these medications, CFO Anat Ashkenazi said on Tuesday's earnings call. Mounjaro sales were $1.8 billion globally, and $1.5 billion in the U.S., up from $568 million and $536 million, respectively, a year earlier. Worldwide revenue for Lilly rose 26% to $8.77 billion year over year, and the firm raised its full-year revenue projection by a range of $2 billion to as high as $43.6 billion. “Unprecedented demand” led to wholesale backorders of Mounjaro and Zepbound at the end of the quarter, Ashkenazi said on the call. “Each week, hundreds of
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News
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- If You'd Invested $10,000 in Eli Lilly Stock 5 Years Ago, Here's How Much You'd Have Today [Yahoo! Finance]Yahoo! Finance
- Roundhill Investments Launches GLP-1 & Weight Loss ETF (OZEM) [Yahoo! Finance]Yahoo! Finance
- Alloy Therapeutics Announces Platform License Agreement with Lilly [Yahoo! Finance]Yahoo! Finance
LLY
Earnings
- 4/30/24 - Beat
LLY
Sec Filings
- 5/21/24 - Form 4
- 5/21/24 - Form 4
- 5/21/24 - Form 4
- LLY's page on the SEC website