Eli Lilly Soars with Zepbound's Weight-Loss Milestone

Increased production capacity for Eli Lilly's weight-loss drug Zepbound led to a $3 billion rise in the company's annual sales forecast. The company's stock surged 12% pre-trading, potentially adding $90 billion in market value. Zepbound's sales exceeded $1 billion in a quarter for the first time since its late 2023 launch.

Eli Lilly has significantly increased its manufacturing capacity for the weight-loss drug Zepbound, prompting the company to raise its annual sales forecast by $3 billion on Thursday. The move caused shares to jump nearly 12% pre-trading, positioning the Indianapolis-based company to potentially add nearly $90 billion in market value if the gains hold through the day.

The drugmaker also elevated its profit forecast for 2024 and reported that Zepbound's quarterly sales surpassed $1 billion since its late 2023 debut. This achievement coincides with Danish competitor Novo Nordisk announcing a rare miss in quarterly sales for its weight-loss treatment, Wegovy.

Both Eli Lilly and Novo Nordisk are expanding their manufacturing capabilities to meet high demand. During the quarter, Lilly managed to backfill orders and increase stock for both Zepbound and Mounjaro, which share the active ingredient tirzepatide. The company noted that consumer demand has been extraordinary, with Zepbound sales accounting for a significant portion of the quarter's revenue.