Eli Lilly & Co. (NYSE: LLY), a prominent pharmaceutical company based in the U.S., has reported robust growth in its Q2 2024 financials, highlighting that previous manufacturing capacity constraints affecting its glucagon-like peptide-1 (GLP-1) drugs have been resolved. The company’s global sales growth surged 37% year-on-year (YOY) in constant currency terms, reaching USD 11.3 billion.
Lilly’s significant boost in production for its incretin (GLP-1) medications, which treat both type 2 diabetes and obesity, has enhanced channel dynamics and inventory levels in the U.S., contributing significantly to sales growth. This includes the weight-loss drug Mounjaro (tirzepatide) and the diabetes therapy Zepbound (tirzepatide). The company is gearing up for the U.S. launch of Zepbound in 2.5mg and 5mg single-dose vials in the coming weeks.
Other key growth drivers for Lilly were the type 2 diabetes drug Jardiance (empagliflozin) and the breast cancer treatment Verzenio (abemaciclib). However, sales of the antidiabetic Trulicity (dulaglutide) experienced a decline during Q2’24.
The substantial growth has prompted Lilly to revise its full-year guidance upwards, with revenues now projected to range from USD 45.4 billion to USD 46.6 billion, up from the previous forecast of USD 42.4 billion to USD 43.6 billion.- Flcube.com
