Eli Lilly lifts profit view on diabetes and weight-loss drug strength [Reuters]
Eli Lilly and Company (LLY)
Last eli lilly and company earnings: 4/23 06:25 am
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Source: Reuters
April 30 (Reuters) - Eli Lilly on Tuesday raised its full-year profit forecast, betting on surging demand for its weight-loss treatment Zepbound and type 2 diabetes drug Mounjaro. Shares of the company rose 3.6% premarket. Sky-rocketing demand for Mounjaro and Zepbound, both chemically known as tirzepatide, has propelled the drugmaker's market value to over $700 billion - surpassing that of Tesla and Walmart Lilly is expanding its manufacturing capacity for the drugs, but expects demand to outpace supply this year. The company now expects adjusted 2024 earnings of $13.50 to $14.00 per share, compared with its prior forecast of $12.20 to $12.70. The Indianapolis-based drugmaker posted a profit of $2.58 per share on an adjusted basis, compared with analysts' expectations of $2.46 per share, according to LSEG data. Keep up with the latest medical breakthroughs and healthcare trends with the Reuters Health Rounds newsletter. Sign up Reporting by Bhanvi Satija and Sriparna R
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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