Eli Lilly posts mixed quarter even as demand for weight loss, diabetes drugs soars

The Lilly Biotechnology Center in San Diego, California, on March 1, 2023.

Mike Blake | Reuters

Eli Lilly on Thursday reported mixed results for the fourth quarter as sales of its blockbuster weight loss and diabetes drugs soared but it saw lower realized prices.

The figures were consistent with the preliminary results Eli Lilly shared in January, which disappointed investors. Eli Lilly had slashed its 2024 revenue guidance, as it said demand for its weight loss and diabetes drugs would not meet its lofty expectations.

The company’s earnings topped Wall Street estimates, but sales fell just short.

Here’s what Eli Lilly reported for the period compared with what Wall Street was expecting, based on a survey of analysts by LSEG:

Earnings per share: $5.32 adjusted vs. $4.95 expected
Revenue: $13.53 billion vs. $13.57 billion expected

This story is developing. Please check back for updates.

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