:max_bytes(150000):strip_icc()/GettyImages-2126120123-0074224acaa24071adc6a3055ac2e51d.jpg "Eli Lilly Stock Keeps Climbing After Drugmaker’s Strong Earnings Report")
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Key Takeaways
- It was a second straight day of gains for Eli Lilly shares following the drugmaker’s blowout second-quarter earnings report.
- Lilly exceeded earnings and revenue forecasts and boosted its guidance as it posted a big jump in sales of its weight-loss drugs Mounjaro and Zepbound.
- Mounjaro and Zepbound sales made up nearly 40% of Lilly’s quarterly revenue.
Investors of Eli Lilly (LLY) continued to ride the wave created by the pharmaceutical firm’s powerhouse second-quarter earnings report.
Shares soared for a second straight session Friday after Lilly posted profit and sales that exceeded analysts’ forecasts, and it raised its guidance, fueled by the excitement for its weight-loss products Mounjaro and Zepbound.
Mounjaro sales skyrocketed 215% from 2023 to $3.09 billion. Its sales were nearly three times larger than Lilly’s second-best-selling drug, breast cancer treatment Verzenio, which saw its sales jump 44% as it surpassed the previous No. 2, diabetes medicine Trulicity.
The company’s other weight-loss drug, Zepbound, wasn’t even available until November, yet its sales were Lilly’s fourth best at $1.24 billion. Together, Mounjaro and Zepbound made up nearly 40% of Lilly’s quarterly revenue.
Executives Warn of ‘Periodic Supply Tightness’
Company officials noted that demand for Mounjaro and Zepbound is strong and growing, but they warned that could mean “periodic supply tightness” even as Lilly ramps up production.
Eli Lilly shares, which were up 5.6% to $891.40 as of 2:30 p.m. ET Friday, have risen 15% since the report was released, and they’ve gained about 53% year-to-date.