Eli Lilly - A Pioneer In Ground Breaking Medicine To Save Lives
๐๐๐For almost 150 years since it was founded by Colonel Eli Lilly in 1876, $Eli Lilly(LLY)$ has been saving lives with its ground breaking medicines and today Lilly 's medicines has helped more than 51 million people around the world. Eli Lilly was also the first company to commercialise insulin in 1923. Before the discovery of insulin, the lives of people with diabetes were cut short.
Lilly has more than 40,000 employees with clinical research conducted in more than 55 countries. Its products are sold in 110 countries.
Today Eli Lilly is continuing its Research in medicines for diabetes, cancer and alzheimer. This year, Lilly hopes that the FDA will sign off its diabetes treatment Mounjaro for weight loss. Sales of Mounjaro has skyrocketedin June quarter. Lilly is also expecting FDA's approval for Donanemab for Alzheimer's treatment by end of 2023.
Eli Lilly stock jumped 15% in just 1 day after topping 2nd quarter 2023 expectations amid fresh enthusiasm for weight loss drugs.
In 2nd quarter 2023, Revenue increased 28%. Q2 EPS increased 86% to USD 1.95 and increased 69% to USD 2.11 on non GAAP basis.
2023 reported EPS guidance raised to USD 9.2 to USD 9.40 and non GAAP EPS guidance to USD 9.70 to USD 9.90.
It is exciting times ahead for Eli Lilly. Its share price has already jumped 51% year todate. I believe that once it has obtained the FDA approval for its weight loss and Alzheimer's medicines,$Eli Lilly(LLY)$ revenue will soar.
$Eli Lilly(LLY)$ has made a name for its life saving medicines through its intensive research and trials. I believe that $Eli Lilly(LLY)$ will continue its growth trajectory as it pioneers new discoveries which are greatly required in our fight against diseases and to live longer than ever before.
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