Eli Lilly Raises Annual Profit Forecast Due to Strong Demand for GLP-1 Drugs
Eli Lilly raised its annual profit forecast to $35.50 to $37.00 per share, driven by strong demand for its GLP-1 drugs Zepbound, Mounjaro, and newly launched Foundayo. The company's first-quarter results exceeded expectations, but initial prescriptions for Foundayo were lower than anticipated. The performance is being closely watched as a test of Lilly's ability to compete with Novo Nordisk in the oral weight-loss drug market.
Topics: Eli Lilly Foundayo GLP-1 drugs Market competition Mounjaro Profit forecast Zepbound