Rapidly climbing sales of the new obesity drug Zepbound and its counterpart for diabetes, Mounjaro, pushed Eli Lilly to a better-than-expected first-quarter profit. The drugmaker also hiked its sales and earnings forecast for 2024 beyond Wall Street’s expectations even as it hustles to boost manufacturing and catch up to surging demand for the drugs. Lilly said it was still dealing with supply issues that also hampered the company in the fourth quarter. Company officials expect that to persist through this year, but they emphasized Tuesday that help was on the way. They expect significant manufacturing increases to occur, starting in the back half of the year. CEO David Ricks told analysts Tuesday that Lilly was undergoing “the most ambitious expansion plan in our company’s history.” Indianapolis-based Eli Lilly and Co. recorded $517 million in sales from Zepbound, which received approval from U.S. regulators last November. Total Mounjaro sales more than tripled to $1.81 billion from $568 million in last year’s quarter. |
Captain of container ship that caused Baltimore bridge collapse is Indian, not UkrainianFederal data does not show a soaring number of unauthorized migrants registering to voteParis race celebrates waiters, waitresses who nourish cityTwo bodies found in search for Sydney couple Jesse Baird and Luke DaviesGaza and Haiti are on the brink of famine, experts say. Here's what that meansMaple syrup from New Jersey: You got a problem with that?Jailed Vietnamese writer honored with international award — Radio Free AsiaMoon landing attempt: Another US lunar lander blasts offNew study finds no brain injuries among 'Havana syndrome' patientsDrug overdoses reach another record in 2022, CDC says