Eli Lilly raised its full-year revenue guidance by $3 billion, driven by massive sales of its GLP-1-based diabetes and obesity drugs Mounjaro and Zepbound.
The pharma giant on Thursday boosted its forecast for 2024 sales to a range of $45.4 billion to $46.6 billion from the previously guided range of $42.4 to $43.6 billion. It also raised its guidance for adjusted earnings per share to a range of $16.10 to $16.60 from the previously guided $13.50 to $14.00.
In the second quarter, overall revenue was $11.3 billion, beating analyst estimates of $9.9 billion. Sales of Mounjaro, which brought in $3.1 billion, and Zepbound, which brought in $1.2 billion, also came in higher than expectations. Sales of the two drugs made up nearly 40% of Lilly’s total revenue in the second quarter, even though the drugs only launched in the last two years.
