🧵 1. Eli Lilly raises full-year guidance as Q2 profit jumps 85%, driven by strong sales from its drug pipeline. Revenue now expected at $33.4-33.9 billion. #business
🧵 1. Eli Lilly raises full-year guidance as Q2 profit jumps 85%, driven by strong sales from its drug pipeline. Revenue now expected at $33.4-33.9 billion. #business
🧵 2. Eli Lilly's Q2 net income up to $1.76 billion, or $1.95/share, from $952.5 million, or $1.05/share, in the same period last year.
🧵 3. Sales of Eli Lilly's breast cancer pill Verzenio rose 57% to $926.8 million in Q2, driving a 28% revenue increase from last year.
🧵 4. Revenue growth also fueled by newer drugs like Mounjaro, Eli Lilly's Type 2 diabetes injection, with sales of $979.7 million in Q2, up from $16 million in the year-ago period.
🧵 5. Eli Lilly's stock surges 10% in premarket trading after strong Q2 results. Positive trial results for Alzheimer's drug and progress in obesity drug pipeline contribute to company's success.
🧵 Read more at: https://www.cnbc.com/2023/08/08/eli-lilly-lly-q2-2023-earnings-report.html