Mounjaro, Zepbound pour money into Eli Lilly, fueling a better-than-expected second quarter
Eli Lilly blew past second-quarter expectations with the diabetes treatment Mounjaro and its weight loss counterpart Zepbound funneling more than $4 billion in sales to the drugmaker
INDIANAPOLIS — Eli Lilly blew past second-quarter expectations with the diabetes treatment Mounjaro and its weight loss counterpart Zepbound funneling more than $4 billion in sales to the drugmaker.
Lilly also hiked its forecast for the year well beyond Wall Street expectations as newer drugs like Zepbound built momentum.
The company’s shares soared Thursday after Lilly detailed its quarterly results.
Mounjaro sales more than tripled in the quarter to nearly $3.1 billion. Zepbound, which is made from the same molecule, brought in $1.2 billion two quarters after regulators approved the drug.
Leerink Partners analyst David Risinger noted that insurance coverage of Zepbound is improving, and Mounjaro sales outside the United States exceeded expectations.
Supply problems that hampered access earlier this year also appear to be easing. Lilly noted that all doses of Zepbound are currently listed as available on a U.S. regulator website that details drug shortages.
However, Lilly CEO David Ricks cautioned that patients could still encounter delays when filling prescriptions. He told analysts on a conference call Thursday that while Lilly can fill orders as it receives them, that doesn't mean that pharmacies will have all 12 doses of Mounjaro and Zepbound available.
The CEO noted that this may not be feasible for the stores, and some customers may have to wait a few days until their orders are filled.
Overall, Lilly’s profit rose 68% to $2.97 billion in the second quarter. Revenue climbed 36% to $11.3 billion. Adjusted earnings totaled $3.92 per
Read more on abcnews.go.com
