Eli Lilly Sees Big Sales from Mounjaro and Zepbound

INDIANAPOLIS (AP) — Eli Lilly & Co. exceeded second-quarter expectations, driven by robust sales from its diabetes treatment Mounjaro and weight loss drug Zepbound, which collectively generated over $4 billion. The company reported that Mounjaro sales surged to nearly $3.1 billion, more than tripling from the previous year, while Zepbound, approved just two quarters ago, contributed $1.2 billion. Additionally, sales of the breast cancer treatment Verzenio rose by 44% to $1.3 billion, further bolstering the company’s financial performance. Lilly's overall revenue climbed 36% to $11.3 billion, significantly surpassing analysts' expectations of $9.97 billion. Adjusted earnings reached $3.92 per share, well above the anticipated $2.74. In light of this strong performance, Lilly raised its full-year earnings forecast to between $16.10 and $16.60 per share, exceeding the Wall Street consensus of $13.69 by more than $2. This marks the second consecutive quarter that Lilly has increased its earnings outlook. The positive results led to a notable surge in Lilly's stock, which jumped over 11% in premarket trading, reaching $862.27. The company’s shares have already set multiple all-time highs this year, with the latest peak at $966.10 last month. Analysts attribute this growth to the successful launch and increasing demand for Lilly's newer medications, indicating a strong market position moving forward.