Eli Lilly (LLY) beats profit forecast amid soaring weight-loss drug demand
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Lilly rides wave of weight-loss drug demand, working to expand capacity
February 6, 2024 6:50 AM ESTBy Patrick Wingrove and Bhanvi Satija
(Reuters) - Eli Lilly on Tuesday forecast 2024 profit above Wall Street estimates on soaring demand for Zepbound, its recently approved weight-loss drug, and said it would have new supply from expanded manufacturing capacity as soon as this year.
Explosive demand for diabetes treatment Mounjaro, which had also been used off label for weight loss, and now Zepbound, has led to a buying spree of Lilly's stock, propelling the drugmaker's market value to over $600 billion.
Lilly announced on an investor call that its new Concord, North Carolina site would begin producing... More
Eli Lilly & Co. (LLY) Tops Q4 EPS by 18c; offers guidance
February 6, 2024 6:47 AM ESTEli Lilly & Co. (NYSE: LLY) reported Q4 EPS of $2.49, $0.18 better than the analyst estimate of $2.31. Revenue for the quarter came in at $9.35 billion versus the consensus estimate of $8.95 billion.
GUIDANCE:
Eli Lilly & Co. sees FY2024 EPS of $12.20-$12.70, versus the... More
