From Breakingviews - Eli Lilly races rising obesity expectations
of revenue in the first quarter less than a year after it was approved for sale. The results encouraged Lilly to raise its annual profit guidance by 3.5%. Investors are counting on that growth becoming exponential.
The pharmaceutical firm also unveiled alongside its earnings release on Thursday that the drug had its second successful large. That is a key hurdle. Patients using Mounjaro only for weight loss typically pay over $1,000 a month currently. With another successful trial under Lilly’s belt, Mounjaro is likely to receive an official green light from the U.S. Food and Drug Administration for use in obesity, and more insurers will subsidize the cost.
But investors in the $365 billion firm are counting on a lot more. Wall Street analysts now expect 2030 revenue of more than $25 billion a year from that drug alone, or about triple what they thought in 2021 according to Jefferies Financial, making it the best-selling drug ever.
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