Eli Lilly Boosts Its Outlook on High Demand for Popular Weight-Loss Drugs

Core Insights - Eli Lilly has raised its full-year revenue and adjusted EPS guidance due to strong sales of its weight-loss drugs Mounjaro and Zepbound, reflecting a booming demand in the weight-loss drug market [3][6]. Financial Performance - Eli Lilly reported adjusted earnings of $7.02 per share and revenue of $17.60 billion for Q3, marking a 54% year-over-year increase. Analysts had expected earnings of $5.91 per share and revenue of $16.06 billion [2]. - Mounjaro sales more than doubled to $6.52 billion, exceeding projections of $5.41 billion, while Zepbound sales nearly tripled to $3.59 billion, surpassing estimates of $3.37 billion [2]. Market Position and Strategy - The company is capitalizing on the growing weight-loss drug market, which is expected to be worth tens of billions of dollars in the coming years [3]. - Eli Lilly announced a partnership with Walmart to sell Zepbound directly to patients, enhancing accessibility [4][6]. Guidance Update - The full-year revenue guidance has been raised to a range of $63 billion to $63.5 billion from the previous $60 billion to $62 billion, and the adjusted EPS outlook has been increased to $23 to $23.70 from $21.75 to $23 [3].