Eli Lilly achieves a jump in sales thanks to new weight loss product Zepbound

Eli Lilly achieves a jump in sales thanks to new weight loss product Zepbound

The US pharmaceutical company Eli Lilly recorded a significant increase in sales and profits at the beginning of the new year, mainly due to successful business in the area of ​​weight loss products. In the first quarter, the company particularly benefited from its diabetes drug Mounjaro, which contains the active ingredient tirzepatide. This same active ingredient is also contained in Lilly's Zepbound weight loss product, which has been available to a broader population in the USA since November. Experts predict that this drug will become the best-selling in the world. Eli Lilly has made its annual targets more optimistic and now expects revenue of 42.4 to 43.6 billion US dollars for 2024, which is two billion more than previously planned. In the best case scenario, revenue could increase by over a quarter compared to the previous year.

The pharmaceutical company also plans to increase profits. Adjusted earnings per share are expected to be between $13.50 and $14.00. This significantly exceeds the expectations of analysts, who had previously expected a value of up to $12.70, compared to $6.32 last year. Eli Lilly shares, listed on the NYSE, rose 5.95 percent to $781.10. In the first quarter, sales rose by around a quarter year-on-year to just under $8.8 billion. Diabetes drug Mounjaro alone contributed $1.8 billion to total sales, compared to less than $600 million last year. Eli Lilly's profits rose by two-thirds to $2.2 billion in the first three months, while adjusted earnings per share rose nearly 60 percent to $2.58.

The pharmaceutical company has presented impressive financial results and increased its annual targets, indicating a promising future.