The U.S. pharmaceutical giant Eli Lilly has reported an impressive first quarter, thanks to strong demand for its diabetes drug Mounjaro, which is also marketed as the weight loss product Zepbound. Sales increased by well over a quarter to nearly $8.8 billion, driven by Mounjaro, which alone contributed $1.8 billion to total sales – a significant increase compared to less than $600 million in the previous year.

Given the Successful Quarter, Eli Lilly Raises Its Forecast for the Full Year 2024. Revenues Are Now Estimated at $42.4 to $43.6 Billion, Representing an Increase of Up to a Quarter Over the Previous Year. The Adjusted Earnings Per Share Have Also Been Revised Upwards and Are Now Expected to Be Between $13.50 and $14.00, After Previously a Maximum of $12.70 Was Anticipated.

The company not only benefited from rising sales of its flagship drug in the first quarter but also from a general recovery after high burdens from acquisitions and increased research and development costs had weighed down the results the previous year. Net profit leaped to 2.2 billion dollars – an increase of two-thirds, while adjusted earnings per share climbed by nearly 60 percent to 2.58 dollars.

Eli Lilly's stock, listed on the NYSE, showed a strong reaction to the positive news and at times increased by 5.78 percent to $779.79. Eli Lilly's confidence for the coming year is based on the continued strong growth of Mounjaro and the wide acceptance of Zepbound, whose market launch, according to experts, has the potential to become the best-selling drug in the world.