Eli Lilly's shares fell by up to 7 percent after the world's largest pharmaceutical company presented sales figures that significantly missed analysts' expectations.

The Indianapolis-based company reported fourth-quarter 2024 revenue of $3.5 billion for its diabetes drug Mounjaro, significantly below the consensus estimates of $4.4 billion. Zepbound, the anti-obesity version of the same drug, achieved $1.9 billion, compared to the expected $2.2 billion. Eli Lilly's annual revenue was $45 billion, approximately $500 million below market expectations.

The announcement triggered a wave of selling as investors doubted the demand for the drugs considered blockbusters. The stock fell to $744.11 in New York. Competitor Novo Nordisk, maker of Wegovy and Ozempic, also saw a 3 percent drop in its share price.

Despite Missing Sales Forecasts, Eli Lilly Expects Revenues Between $58 and $61 Billion for 2025. Evan Seigerman, Analyst at BMO Capital Markets, Emphasized That the Forecast for the Coming Year Is More Optimistic.

David Ricks, CEO of Eli Lilly, indicated that the U.S. market for the new weight reduction and diabetes drugs grew by 45 percent year-over-year in the quarter, but remained below the company's expectations.

2024 was a pivotal and highly successful year for Lilly, and we expect to continue our momentum in 2025 with strong financial and operational performance," stated Ricks.

Ricks announced that Eli Lilly would expand the production capacity for Mounjaro. In the first half of 2025, at least 60 percent more doses should be available than in the same period of the previous year. Additionally, the company plans to introduce Mounjaro in new markets.

In addition, new drugs such as the cancer drug Jaypirca, the eczema injection Ebglyss, and Omvoh for the treatment of chronic inflammatory bowel diseases are expected to drive growth. The introduction of a breast cancer drug could also provide positive impetus in 2025.