LLY - Goldman Scrutinizes Hits Misses And Growth Trajectory Concerns For Eli Lilly And Its Its Obesity and Diabetes Drugs | Benzinga
Tuesday, Eli Lilly And Co (NYSE:LLY) reported first-quarter revenue of $8.77 billion, up 26% year over year, marginally missing the consensus of $8.92 billion, driven by increases of 16% in volume and 10% due to higher realized prices.
Eli Lilly posted an adjusted EPS of $2.58, beating the consensus of $2.46, higher than $1.62 a year ago.
Goldman Sachs writes that Eli Lilly reported somewhat of a mixed quarter. Topline underperformance was driven primarily by lower-than-expected Mounjaro sales ($1.8 billion vs. GS/Consensus of $2.4 billion/$2.1 billion).
Additionally, there was a miss by several in-line products (Trulicity -12%/-12% vs. GS/Consensus, Verzenio -2%/-3% vs. GS/Consensus, Taltz -2%/-7% vs. GS/Consensus).
Goldman Sachs writes that Zepbound sales exceeded consensus expectations ($517 million vs. GS/Consensus of $500 million/$390 million, respectively).
Goldman highlighted that progress on bolstering supply for incretin products and expected growth trajectory for 2024 should be a focus for the investor call. Also, any insight into the potential timelines for the narrower gap between supply and demand would be considered.
- Anat Ashkenazi, CFO, said, ...