No recommendation
No news or research item is a personal recommendation to deal. Hargreaves Lansdown may not share ShareCast's (powered by Digital Look) views.
(Sharecast News) - Eli Lilly lifted its full-year guidance on Wednesday as weight-loss jabs Mounjaro and Zepbound drove an increase in second-quarter sales.
Revenue rose 48% to $23bn, driven mainly by Mounjaro and Zepbound volume, Lilly said. Second-quarter earnings per share ticked up 26% to $7.94 on a reported basis and net income came in at $7.1bn, up from $5.7bn in the same period a year earlier.
Revenue in the US grew 33% to $14.4bn, while revenue outside the US was 80% higher at $8.6bn.
Sales of Mounjaro surged 91% to $9.9bn and Zepbound sales shot up 46% to $4.9bn.
The pharmaceuticals group now expects full-year revenue of between $85bn and $87bn, up from previous guidance of $82bn to $85bn. Earnings per share for the year are now expected at between $35.50 to $36.50, versus previous guidance for $35.50 to $37,00.
Chair and chief executive David A. Ricks said that with the company's next-generation weight-loss medicine retatrutide and its "complete clinical data package in hand, new manufacturing capacity coming online, and exciting new assets entering our pipeline through business development, Lilly's future, after 150 years, has never been brighter".
Eli Lilly shares were up 4.6% at 1340 BST in pre-market trade.
The value of investments can go down in value as well as up, so you could get back less than you invest. It is therefore important that you understand the risks and commitments. This website is not personal advice based on your circumstances. So you can make informed decisions for yourself we aim to provide you with the best information, best service and best prices. If you are unsure about the suitability of an investment please contact us for advice.