Weight Loss Drugs Drove Eli Lilly's Massive Profit - But They Still Cut Their Annual Profit Guidance, Here's Why
Portfolio Pulse from Vandana Singh
Eli Lilly reported Q3 sales of $9.49 billion, up 37% Y/Y, beating the consensus of $8.95 billion. The growth was driven by Mounjaro, Verzenio, and Jardiance, as well as $1.42 billion from the sale of rights for the olanzapine portfolio. However, the company cut its annual profit guidance due to recent acquisitions. Eli Lilly's shares are up 4.83% at $581.03.
November 02, 2023 | 2:03 pm
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Eli Lilly's Q3 sales beat expectations, driven by strong performance of its diabetes drugs. However, the company cut its annual profit guidance due to recent acquisitions.
Eli Lilly's Q3 sales beat expectations, which is a positive signal for investors. However, the company cut its annual profit guidance due to recent acquisitions, which could be a concern for investors. The net impact on the stock price could be neutral in the short term.
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IMPORTANCE 80
RELEVANCE 100