After the pharmaceutical behemoth said that its fourth-quarter 2024 sales prediction of $13.5 billion missed earlier guidance by $400 million, Eli Lilly and Company (LLY, Financials) shares dropped 6.7% to $744.03 Tuesday at 1:47 p.m. ET.
With a 32% rise from the year before, the corporation still projects full-year 2024 income to be $45 billion. Notwithstanding robust sales of its incretin medicines Mounjaro and Zepbound, which generate $3.5 billion and $1.9 billion respectively, investors responded unfavorably to the reduced Q4 outlook.
Lilly gave hopeful income projections for 2025 ranging from $58 billion to $61 billion, therefore showing a midpoint rise of 32%. CEO David Ricks attributed the expectation to improved production capacity and new product introductions but highlighted slower-than-expected expansion in the U.S. incretin market as a factor influencing Q4 results.
In the first half of 2025, the company anticipates generating at least 60% more salable doses of incretins than in the same time in 2024, Ricks added.
The business intends to publish its Q4 2024 financial statements and further information on Feb. 6.
