Eli Lilly raises forecast after boost in Zepbound, Mounjaro sales

Core Insights - Eli Lilly and Co. reported second-quarter earnings that exceeded Wall Street expectations, driven by strong sales of its weight-loss drugs Mounjaro, Zepbound, and Verzenio [1] - The company raised its full-year revenue outlook by $3 billion, now projecting between $45.4 billion and $46.6 billion [1] Financial Performance - Eli Lilly achieved global revenue of $11.3 billion in the second quarter, surpassing the expected $9.92 billion [1] - Adjusted earnings per share were reported at $3.92, exceeding Wall Street's estimate of $2.60 [1] Product Sales - Mounjaro's global revenue reached $3.09 billion, a significant increase from $979.7 million in the same quarter last year [2] - U.S. revenue for Mounjaro was $2.41 billion, up from $915.7 million year-over-year [2] - Zepbound, launched in November 2023, generated $1.24 billion in U.S. revenue [2] Market Outlook - The weight-loss drug sector is projected to reach $105 billion by 2030, with potential growth up to $144 billion according to Morgan Stanley [3] - Despite a recent forecast reduction from Novo Nordisk regarding its weight-loss drug Wegovy, Eli Lilly plans to increase supply of its own weight-loss medications [3]