Eli Lilly's shares rose 7% after the drugmaker reported a 48% year-over-year jump in quarterly revenue that beat analyst estimates.
Mounjaro and Zepbound drove the result, which Citi analysts said is proof the diabetes and weight-loss markets are still growing. The drugmaker increased its full-year revenue guidance.
Foundayo, the company's recently launched once-daily GLP-1 pill, was a relative weak spot. Sales were $98 million, roughly 3% below consensus.
Analysts are closely watching how recently enacted Medicare coverage of Lilly's drugs impacts future sales. "Continued uptake will help determine whether improved access can offset pricing pressure and intensifying competition," Citi analyst Geoff Meacham said.
At the request of the copyright holder, you need to log in to view this content
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments