Mounjaro and Zepbound drive Eli Lilly past Wall Street expectations
Strong demand for Mounjaro and Zepbound helped Eli Lilly report $23 billion in second-quarter revenue, surpassing Wall Street expectations and prompting the company to raise its full-year forecast.
Article Summary
- Eli Lilly beat Wall Street expectations with $23 billion in Q2 revenue, driven by strong sales of Mounjaro and Zepbound.
- Mounjaro generated $9.943 billion and Zepbound brought in $4.928 billion, reflecting strong demand in both the U.S. and internationally.
- The company raised its full-year revenue guidance to between $85 billion and $87 billion, citing momentum and future growth prospects.
The weight loss drug boom is showing no signs of slowing down. Strong demand for Eli Lilly and Company's top-selling medications Mounjaro and Zepbound pushed the pharmaceutical company past Wall Street expectations, delivering $23 billion in second-quarter revenue and prompting it to raise its full-year forecast.
The results exceeded Wall Street's expectations. Analysts had projected the company's second-quarter revenue would total about $20 billion.
Mounjaro generated $9.943 billion in revenue during the quarter, while Zepbound brought in $4.928 billion.
"Lilly's momentum continues, as we delivered 48% revenue growth and raised our full-year guidance," said David A. Ricks, Lilly chair and CEO in a press release. "At the same time, Lilly is building for the future. With our next-generation weight-loss medicine retatrutide and its complete clinical data package in hand, new manufacturing capacity coming online, and exciting new assets entering our pipeline through business development, Lilly's future, after 150 years, has never been brighter."
Mounjaro
Mounjaro is the first and only approved Type 2 diabetes medication that activates two key hormones to help lower blood sugar levels in patients ages 10 and older. According to Eli Lilly, the once-weekly injectable prescription should be used alongside a healthy diet and regular exercise.
The medication can cost between about $25 and $1,350 per month, depending on insurance coverage and eligibility for savings programs. Eli Lilly also offers a savings card that allows eligible patients to pay as little as $25 for a three-month prescription.
Mounjaro generated $4.8 billion in U.S. revenue during the quarter, reflecting strong demand, according to the company.
International revenue reached $5.2 billion, driven by increased sales volume.
Zepbound
Zepbound is a once-weekly injectable medication designed to help adults with obesity or overweight-related medical conditions lose weight. The prescription contains tirzepatide and is intended to be used alongside a reduced-calorie diet and increased physical activity.
The medication's price varies by dosage and insurance coverage, but patients can expect to pay roughly $300 to $1,000. Eli Lilly offers resources on its website to help patients determine insurance coverage and locate participating providers.
Zepbound generated $4.9 billion in U.S. revenue during the second quarter, also fueled by strong demand, according to the company.
Revenue outlook
Following the stronger-than-expected quarter, Eli Lilly raised its full-year revenue guidance. The company now expects revenue to range between $85 billion and $87 billion, up from its previous forecast of $82 billion to $85 billion.
As of Aug. 5, Eli Lilly stock was trading at $1,128.31 after the company reported its stronger-than-expected second-quarter earnings.
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