Eli Lilly experienced a shocking miss in quarterly sales, with both its weight loss drug Zepbound and diabetes drug Mounjaro missing Wall Street estimates by nearly $900 million.
Analysts were surprised by the inventory destocking, as demand for weight loss drugs remains high despite sales falling short of expectations, raising concerns about future market performance.
CFO Lucas Montarce reassured investors that there would be no further large fluctuations in inventory, even as competitors like Novo Nordisk faced similar sales challenges.
CEO Dave Ricks claimed that there wasn’t a 'demand problem,' however, the recent sales numbers may indicate a potential waning interest in weight loss drugs.
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