Published 1 year ago

Eli Lilly's weak diabetes drugs sales cloud 2023 profit forecast

Summary by Ground News

Lilly missed Wall Street estimates for fourth-quarter sales of Mounjaro. Sales of its blockbuster diabetes drug Trulicity also fell short of expectations. Breast cancer drug Verzenio was a bright spot, doubling from a year ago to $808 million. Company sought to allay investor concerns over falling sales of older drugs.

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Reuters

Eli Lilly's weak diabetes drugs sales cloud 2023 profit forecast

Eli Lilly and Co missed Wall Street estimates for fourth-quarter sales of both the closely-watched new type 2 diabetes drug Mounjaro and its blockbuster treatment for the condition, overshadowing a better-than-expected 2023 profit forecast, and shares fell 6%.

1 year ago·United Kingdom

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