Lilly Raises 2024 Guidance as Zepbound Keeps Flying Off Shelves [BNN Bloomberg (Canada)]
Novo Nordisk A/S (NVO)
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Source: BNN Bloomberg
Lilly lifted guidance even as overall sales for the quarter missed Wall Street's estimates. The one exception was the weight-loss drug Zepbound, which was far ahead of expectations. The drugmaker sees the supply situation for Zepbound and diabetes treatment Mounjaro improving, along with higher revenues later this year as fewer patients pay for its products with coupons. Adjusted earnings for 2024 will be $13.50 to $14 a share, the Indianapolis-based company said in a statement, up from the earlier range of $12.20 to $12.70, and revenue will be as high as $43.6 billion. Read More: Lilly's Zepbound Outage Deepens as Almost All Doses Short The company's shares rose 7% in before US markets opened. If that holds into regular trading, it will be their biggest gain since November. Lilly and rival Novo Nordisk A/S have been locked in a battle to dominate the weight-loss drug market, with both trying to boost output as demand continues to outstrip supply. Lilly's weight-loss drug Zep
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News
- Hims & Hers' surprise 85% Wegovy discount is latest step on a journey to make medicine less ‘paternalistic,' exec says [Fortune]Fortune
- Hims will follow its Viagra playbook and offer weight-loss drugs that are 85% cheaper than Wegovy—with Mounjaro and Zepbound in its sights next [Fortune]Fortune
- Hims & Hers Stock Hits 3-Year High After Announcing $199 Weight-Loss Alternative To Wegovy [Forbes]Forbes
- Hims & Hers Adds Weight-Loss Injections, Stock Soars [Yahoo! Finance]Yahoo! Finance
- Wellness Platform Hims & Hers Health Adds GLP-1 Injections For Weight Loss, Stock Soars [Yahoo! Finance]Yahoo! Finance
NVO
Earnings
- 5/3/24 - Beat
NVO
Sec Filings
- 5/17/24 - Form 6-K
- 5/17/24 - Form SD
- 5/15/24 - Form 6-K
- NVO's page on the SEC website