Eli Lilly raised its annual sales forecast by $3 billion after increased manufacturing capacity for its weight-loss drug Zepbound, driving its shares up 14%. The company also boosted its 2024 profit forecast and reported Zepbound sales exceeding $1 billion for the first time in a quarter since its launch.
Eli Lilly’s popular obesity and diabetes drugs, Mounjaro and Zepbound, are facing ongoing shortages that are limiting their supply and impacting the company’s earnings. According to analysts, these shortages could result in lower revenue and earnings per share for the first quarter. The company is working to ramp up manufacturing to meet the demand, but the impact on earnings remains a concern. Investors will be watching for updates on manufacturing capacity, pricing, and coverage decisions from insurers as they assess the impact on Lilly’s financial performance.
