Lilly predicts weak fourth-quarter sales of weight-loss drugs, stock falls

(Reuters) – Eli Lilly predicted sales of popular weight-loss drug Zepbound and related diabetes treatment Mounjaro would miss Wall Street estimates in the fourth quarter, sending the drugmaker’s shares down more than 8% on Tuesday.

The company said it had expected the market for the class of drugs known as incretins, which includes both Zepbound and Mounjaro, to grow faster in the fourth quarter.

Lilly’s Zepbound and rival Novo Nordisk’s Wegovy have seen massive demand since they were approved, leading to shortages of both drugs. Both companies have sought to increase production to meet demand.

Lilly said it expects $3.5 billion in fourth-quarter Mounjaro sales and $1.9 billion for Zepbound. Analysts had expected the drugs to bring in $5.35 billion and $2.08 billion, respectively, according to data compiled by LSEG.

The company added that it expects 2025 sales between $58 billion and $61 billion, with the midpoint above analysts’ estimates of $58.52 billion.

(Reporting by Bhanvi Satija in Bengaluru; Editing by Shounak Dasgupta)