Eli Lilly Projects FY Revenue of $85B-$87B, Fueled by Obesity Drug Boom
LLY sits 83% above its 52-week low of $623.78.
Summary
Eli Lilly guided full-year revenue to $85B-$87B, a massive leap from the $45B run rate implied by Q1's $11.3B, and raised its adjusted EPS view to $35.50-$36.50. The surge is driven by insatiable demand for its GLP-1 obesity and diabetes drugs—Mounjaro, Zepbound, and the oral pill Foundayo—with Q2 revenue outside the U.S. increasing 80% to $8.6 billion. The company beat Q2 revenue estimates, following a string of blockbuster trial results and major formulary wins, including CVS Caremark's reinstatement of Zepbound. The guidance signals management's confidence that supply and reimbursement are finally catching up to demand. With the GLP-1 market projected to hit $150B by 2030, Lilly is staking a dominant claim. The stock is likely to reprice sharply on this new baseline.
At the time of this announcement, LLY was trading at $1,141.30 on NYSE in the Life Sciences sector, with a market capitalization of approximately $1.1T. The 52-week trading range was $623.78 to $1,249.45. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: Dow Jones Newswires.