Goldman Scrutinizes Hits, Misses, And Growth Trajectory Concerns For Eli Lilly And Its Its Obesity and Diabetes Drugs
Portfolio Pulse from Vandana Singh
Eli Lilly (LLY) reported a mixed Q1 with revenue of $8.77 billion, slightly missing expectations but with an adjusted EPS of $2.58, beating consensus. Mounjaro sales underperformed, while Zepbound exceeded expectations. The company is focusing on increasing supply for incretin products and expects significant growth in 2024. Lilly recently acquired a manufacturing facility to boost production. Discussions also touched on expanding payor access for Zepbound and the potential for tirzepatide to secure Part D reimbursement for obesity comorbidities.
April 30, 2024 | 7:11 pm
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Eli Lilly reported mixed Q1 results with a slight revenue miss but higher EPS. Mounjaro sales underperformed, while Zepbound exceeded expectations. The company is focusing on supply increases and expects significant growth in 2024.
The mixed Q1 results with a revenue miss might initially concern investors, but the EPS beat and positive outlook for supply increases and growth in 2024, especially with the acquisition of a new manufacturing facility, are likely to positively impact investor sentiment. The focus on expanding payor access for Zepbound and potential for tirzepatide to secure Part D reimbursement also add to the positive outlook.
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