Shares of world’s most valuable pharmaceuticals group reapproach record highs
Soaring sales of Eli Lilly’s hugely popular diabetes and weight loss drugs Mounjaro and Zepbound prompted the US pharmaceutical group to lift its guidance for the year and pushed its share price towards record high territory. Photograph: George Frey/BloombergSoaring sales of Eli Lilly’s hugely popular diabetes and weight loss drugs Mounjaro and Zepbound prompted the US pharmaceutical group to lift its guidance for the year and pushed its share price towards record high territory.
Eli Lilly’s share price was up more than seven per cent shortly after Wall Street’s opening bell on Tuesday, taking its year-to-date gain to almost 36 per cent. Shares of Denmark’s Novo Nordisk, which makes rival Ozempic and Wegovy medicines, are up more than 28 per cent in 2024.For its fiscal first quarter, Eli Lilly’s earnings per share came in at $2.58, above analysts’ expectations of $2.47. But first-quarter revenues of $8.
The drugmaker has also now broken ground on a new site in Germany. The Financial Times also previously reported that Eli Lilly had tapped contract manufacturers BSP Pharmaceuticals and Resilience to fill and finish its pens.
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