How the CFOs of Eli Lilly and Novo Nordisk are coping with ‘unprecedented demand' for weight-loss drugs [Yahoo! Finance]
Eli Lilly and Company (LLY)
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Source: Yahoo! Finance
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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LLY
News
- Eli Lilly's (LLY) Efsitora Matches Daily Insulins in A1C Control [Yahoo! Finance]Yahoo! Finance
- Meet the GLP-1 Drug That Could Be the Biggest Concern for Eli Lilly and Novo Nordisk [Yahoo! Finance]Yahoo! Finance
- Stanley Druckenmiller makes surprising small-cap and AI stock bet [Yahoo! Finance]Yahoo! Finance
- Investors put $400M into biotech licensing obesity drugs from China [Yahoo! Finance]Yahoo! Finance
- Viking falls after Roche's obesity drug data [Seeking Alpha]Seeking Alpha
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