3 months ago
Key Takeaways
- Eli Lilly reports net August 8. Analysts expect nan company's weight-loss narcotics to further substance nan drugmaker's gross and profits.
- The institution and competitors for illustration Novo Nordisk person worked to summation accumulation capacities to meet nan request for nan drugs.
- The abstraction appears apt to get much competitory arsenic different companies activity to beforehand their ain products.
Eli Lilly (LLY) reports net earlier markets unfastened connected August 8, pinch analysts projecting gross and profits to beryllium boosted by nan fame of nan weight-loss narcotics Mounjaro and Zepbound.
The drugmaker is projected to study $9.97 cardinal successful revenue, a 20% bump from past year's people of $8.31 billion, pinch net income besides projected to emergence complete 35% to $2.39 cardinal from $1.76 cardinal a twelvemonth ago, according to estimates compiled by Visible Alpha.
| Analyst Estimates for Q2 2024 | Q1 2024 | Q2 2023 | |
| Revenue | $9.97 billion | $8.77 billion | $8.31 billion |
| Diluted EPS | $2.65 | $2.48 | $1.95 |
| Net Income | $2.39 billion | $2.24 billion | $1.76 billion |
Key Metric: Mounjaro, Zepbound Sales
Demand for nan weight-loss narcotics has boosted nan gross and shares of Eli Lilly on pinch Ozempic and Wegovy-maker Novo Nordisk (NVO) complete nan past year, arsenic nan companies person accrued accumulation capacity to meet demand.
In its first-quarter report, Eli Lilly lifted its gross and profit projections for nan afloat twelvemonth owed to beardown income for nan weight-loss drugs.
JPMorgan analysts wrote Monday that Eli Lilly remains 1 of their "core holdings" successful nan pharmaceutical space, particularly arsenic nan banal has fallen successful caller weeks amid a market-wide rotation out of immoderate of nan largest stocks connected nan market..
Business Spotlight: Increasing Weight-Loss Competition
Eli Lilly and Novo Nordisk's power successful nan weight-loss abstraction could beryllium challenged successful nan coming quarters arsenic narcotics from competitors for illustration Viking Therapeutics (VKTX) and Swiss drugmaker Roche person showed affirmative results successful early trials. Telehealth institution Hims & Hers Health (HIMS) announced its own weight-loss offerings successful nan quarter, perchance astatine a little costs than celebrated narcotics for illustration Ozempic and Mounjaro.
JPMorgan analysts said they judge Eli Lilly and Novo Nordisk are apt to "remain dominant" successful nan weight nonaccomplishment abstraction going guardant contempt accrued competition. They proceed to spot "significant upside" to Mounjaro and Zepbound sales.
Eli Lilly shares were up 1.8% Wednesday to supra $804, much than 37% supra wherever they started nan year, but down from grounds levels seen earlier this month.
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