Eli Lilly beats on quarterly profit, hikes full-year guidance on strong sales of Zepbound, Mounjaro

Eli Lilly reported a first-quarter adjusted profit that exceeded Wall Street expectations, driven by robust sales of its diabetes drug Mounjaro and the new weight loss treatment Zepbound. The pharmaceutical giant also raised its full-year earnings and revenue forecasts, citing increased production visibility for these drugs.

Despite facing U.S. shortages expected to last until June, Zepbound generated $517.4 million in sales in its first quarter on the market. Eli Lilly's CEO emphasized the complexity and regulatory challenges in ramping up production for these treatments, describing them as some of the most complicated medicines the company has ever produced. Shares of Eli Lilly surged nearly 7% in premarket trading following the announcement.