Eli Lilly Stock Tumbles on Slower-Than-Expected Weight Loss Drug Sales. Is This a Buying Opportunity?

GLP-1 drugs have become all the rage for weight loss, with sales for drugs like Novo Nordisk's Ozempic and Eli Lilly's (NYSE: LLY) Mounjaro skyrocketing over the past year. However, Eli Lilly recently surprised investors when it cut its full-year revenue guidance ahead of an investor conference after sales of its GLP-1 drugs fell short of expectations.Eli Lilly now expects revenue to be approximately $13.5 billion for its fourth quarter and $45 billion for the full year 2024. The company had earlier forecast full-year revenue to come in between $45.4 billion to $46 billion. Analysts, meanwhile, were projecting Q4 revenue of $13.94 billion and full-year revenue of $45.49 billion, as compiled by LSEG. The new forecast from Lilly reflects 44% year-over-year revenue growth for the fourth quarter and 32% for the year. So the company is still seeing strong growth -- just not as robust as anticipated. It is also worth noting that Lilly's original full-year revenue guidance was for $41 billion, so it handily surpassed that. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool