weight-loss drug Zepbound drove the company to raise its annual sales forecast by $2-billion on Tuesday, lifting its shares nearly 6 per cent.
The company said sales growth will depend on how much of the medicines it can produce and ship in the short to mid-term. Indianapolis-based Eli Lilly and Danish rival Novo Nordisk are racing to increase production in a weight-loss market estimated to reach at least $100-billion by decade’s end. Both companies’ obesity treatments belong to a class of drugs originally developed for diabetes known as GLP-1 agonists.
The U.S. Food and Drug Administration has said most doses of Zepbound and Mounjaro are expected to be in shortage through the second quarter of this year. Mounjaro sales, however, came in below Wall Street estimates of $2.08-billion, which analysts attributed to limited supply. That amounts to a total of more than 1 million Zepbound prescriptions, and around 1.75 million for Wegovy, written in the United States since the start of 2024.
Health Health Latest News, Health Health Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »