Eli Lilly Stock Slumps on Lowered Sales Forecast

Revenue Forecast and Performance - Eli Lilly lowered its revenue forecast for the 2024 fiscal year, expecting full-year revenue of $45 billion, below the previously projected range of$45.4 billion to $46 billion [2][3] - Fourth-quarter revenue is expected to be approximately$13.5 billion, missing analysts' estimates of $13.97 billion [3] - The company's shares dropped nearly 7$746 in intraday trading following the announcement, despite a 17% gain over the past 12 months [6] Weight-Loss Drug Sales and Production - Sales of weight-loss drugs Mounjaro and Zepbound grew slower than expected in the fourth quarter, partly due to lower-than-expected inventory [2] - The company anticipates producing at least 60% more salable doses of these drugs in the first half of 2025 compared to 2024 [4][6] Future Outlook - Eli Lilly expects fiscal 2025 revenue to be between $58 billion and$61 billion, slightly above analysts' current projection of $59.33 billion [5] - The company plans to report fourth-quarter earnings and provide a full forecast for fiscal 2025 on February 6 [5]