Biotech
Wednesday, May 8th, 2024 5:16 pm EDT
Key Points
- Eli Lilly and Novo Nordisk, major manufacturers of weight loss and diabetes drugs, are working to address the challenge of limited availability in the U.S., with Eli Lilly’s efforts receiving more positive attention from investors.
- Eli Lilly’s increase in full-year revenue outlook by $2 billion, driven by enhanced production of Zepbound and Mounjaro, was well-received, especially considering its expansion of manufacturing sites and the upcoming launch of a new delivery device, KwikPen.
- In contrast, Novo Nordisk faced a decrease in stock value despite efforts to boost production of Wegovy and Ozempic, missing sales estimates due to price reductions and increased competition, while also focusing on ensuring continuity of care for patients already on treatment.
The article discusses the challenges and advancements in the availability of weight loss and diabetes medications by pharmaceutical giants Eli Lilly and Novo Nordisk. Eli Lilly’s decision to boost production of its weight loss drug Zepbound and diabetes treatment Mounjaro led to an increase in its full-year revenue outlook by $2 billion, garnering positive reactions from investors. The company highlighted its manufacturing expansion across several sites and the launch of a new delivery device for Mounjaro, anticipating enhanced supply capacity. Conversely, Novo Nordisk faced a decrease in its stock value after releasing its first-quarter results, despite efforts to increase the production of its weight loss drug Wegovy. Although the company experienced a rise in prescriptions and supply, it fell short of Wall Street’s sales estimates due to price reductions and intensified competition in the market. Additionally, the article touches upon Apple’s FDA approval for its heart-monitoring technology, particularly its Atrial Fibrillation History feature, which aids in assessing cardiac ablation devices’ safety and effectiveness. This approval signifies a significant advancement in digital health technology, providing valuable insights for clinical studies and patient care.
For the full original article on CNBC, please click here: https://www.cnbc.com/2024/05/07/healthy-returns-eli-lilly-novo-nordisk-boost-weight-loss-drug-supply.html
