Reported 27 days ago
Eli Lilly's recent sales figures for its weight-loss drug Zepbound and diabetes treatment Mounjaro fell short of Wall Street predictions, causing an 8% drop in shares and a loss of nearly $70 billion in market value. Despite having addressed previous supply shortages, Lilly's CEO noted that distributors adjusted their orders, leading to excess inventory and a lack of advertising to stimulate demand. Mounjaro generated $3.11 billion in sales while Zepbound brought in $1.26 billion, both below analyst expectations. Lilly also lowered its annual profit forecast, indicating challenges in capitalizing on the growing demand for these treatments.
Source: YAHOO