Eli Lilly’s third-quarter gross sales and earnings had been decrease than anticipated, a uncommon stumble for the corporate that had persistently reported robust gross sales and beat earnings forecasts since demand for its blockbuster weight reduction and diabetes medication started booming.
The corporate reported Wednesday general income of $11.4 billion, decrease than the $12.2 billion anticipated from analysts polled by Seen Alpha. Adjusted earnings per share additionally got here in decrease than anticipated at $1.18.
Lilly mentioned gross sales of its GLP-1 medication had been affected by drug wholesalers shopping for much less product. The diabetes remedy Mounjaro introduced in $3.1 billion and the weight problems treatment Zepbound introduced in $1.3 billion, decrease than analysts’ predictions of $3.6 billion and $1.7 billion, respectively.
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