Reported 1 day ago
Eli Lilly has reduced its 2024 revenue forecast by $400 million, falling 3% short of previous estimates due to unexpected market dynamics in the GLP-1RA diabetes treatment sector. Despite a projected 45% year-over-year growth to approximately $13.5 billion in Q4 2024, driven by robust sales of Mounjaro and Zepbound, the company faced challenges including supply shortages and fierce competition. CEO Dave Ricks acknowledged the difficulties in forecasting growth in this rapidly evolving market, as Lilly aims to produce significantly more incretin doses to meet rising demand while diversifying its product offerings.
Source: YAHOO