Latest news with #DavidRicks
Business Insider
3 days ago
- Business
- Business Insider
LLY Earnings: Eli Lilly Sinks Despite Strong Q2 Beats
Eli Lilly (LLY) stock sank on Thursday following the release of the pharmaceutical company's Q2 2025 earnings report. That's despite the company's adjusted earnings per share of $6.31 and revenue of $15.56 billion. These were both above Wall Street's estimates of $5.60 per share and revenue of $14.7 billion. Also, adjusted EPS increased 61% and revenue rose 38% year-over-year. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. David Ricks, Chairman and CEO of Eli Lilly, said, 'Lilly delivered another quarter of strong performance, achieving 38% year-over-year revenue growth driven by robust sales of Zepbound and Mounjaro and sustained momentum across our key medicines.' LLY stock was down 7.35% in pre-market trading on Thursday, following a 2.56% drop yesterday. The shares have also decreased 2.96% year-to-date and 11.7% over the past 12 months. Pre-market trading had some 1.3 million shares exchanged, compared to a three-month daily average of about 3.2 million units. Eli Lilly Guidance Eli Lilly increased its guidance for 2025 in its latest earnings report. The company expects adjusted EPS to range from $21.75 to $23 on revenue between $60 billion and $62 billion. To put that in perspective, Wall Street estimates include adjusted EPS of $21.98 and revenue of $60.09 billion. With midpoints of $22.38 for EPS and $61 billion for revenue, Eli Lilly is on track to surpass analysts' full-year 2025 estimates. Unfortunately for Eli Lilly shareholders, the company also released clinical trial data for weight loss pill orforglipron today. The highest dosage resulted in a 12.4% drop in body fat, which met the primary endpoint but was below expectations. This news sent LLY shares lower despite today's strong earnings results. Is Eli Lilly Stock a Buy, Sell, or Hold? Turning to Wall Street, the analysts' consensus rating for Eli Lilly is Strong Buy, based on 17 Buy and three Hold ratings over the past three months. With that comes an average LLY stock price target of $1,016.69, representing a potential 36.22% upside for the shares. These ratings and price targets will likely change as analysts update their coverage after today's earnings report.
Yahoo
3 days ago
- Health
- Yahoo
Could GPL-1 weight loss soon come in pill form? What we know
Eli Lilly, the pharmaceutical company behind GLP-1 injection Zepbound, is working to bring its weight loss drug to the market in pill form. In an Aug. 7 earnings call, Eli Lilly CEO David Ricks told investors that the company plans to submit the drug, orforglipron, to the FDA for approval by the end of the year. Dan Skovronsky, chief scientific officer and president of Lilly Immunology, said that the company was "very pleased" with the safety and efficacy of orforglipron as seen in trials so far. Unlike injectable obesity drugs, which are peptides designed to mimic the appetite-controlling GLP-1 hormone, orforglipron is a small molecule pill that is easier to manufacture and package, said Kenneth Custer, president of Lilly's cardiometabolic health division. Lilly views the once-daily pill as a promising alternative to injections that could be used for early intervention and long-term disease management, Custer said. Here's what we know so far about the proposed weight loss pill. What have the trials found? In a clinical trial, the company's weight loss pill resulted in a nearly 12% weight loss at 72 weeks for participants who took the highest dose of the medication. On average, participants lost 7.8% to 12.4% of their body weight, and 40% of people on the highest dose lost more than 15%, Eli Lilly reported. The most commonly reported side effects included gastrointestinal issues consistent with other GLP-1s, such as nausea, vomiting, and diarrhea. Five to ten percent of patients discontinued the drug across doses, the company said, which was one of two late-stage trials the drug must pass before being submitted for federal approval. While Eli Lilly saw the results as indicators of success, investors on the call expressed concerns. Some had hoped that its efficacy would more closely resemble that of existing injections on the market — which can result in up to a 20% body weight loss — while others noted the trial drop-out rate of 12% due to side effects or personal reasons. When will the weight loss pill hit the market? While there is not yet an official timeline, Eli Lilly executives have said they plan to submit orforglipron for federal approval by the end of the year. Reviews of New Drug Approval submissions to the FDA usually last one to two years before a drug is greenlit for manufacturing. Contributing: Alysa Guffey, Indianapolis Star; Reuters This article originally appeared on USA TODAY: GLP-1 weight loss could soon come in pill form: What to know Sign in to access your portfolio
USA Today
3 days ago
- Health
- USA Today
Could GPL-1 weight loss soon come in pill form? What we know
Eli Lilly, the pharmaceutical company behind GLP-1 injection Zepbound, is working to bring its weight loss drug to the market in pill form. In an Aug. 7 earnings call, Eli Lilly CEO David Ricks told investors that the company plans to submit the drug, orforglipron, to the FDA for approval by the end of the year. Dan Skovronsky, chief scientific officer and president of Lilly Immunology, said that the company was "very pleased" with the safety and efficacy of orforglipron as seen in trials so far. Unlike injectable obesity drugs, which are peptides designed to mimic the appetite-controlling GLP-1 hormone, orforglipron is a small molecule pill that is easier to manufacture and package, said Kenneth Custer, president of Lilly's cardiometabolic health division. Lilly views the once-daily pill as a promising alternative to injections that could be used for early intervention and long-term disease management, Custer said. Here's what we know so far about the proposed weight loss pill. What have the trials found? In a clinical trial, the company's weight loss pill resulted in a nearly 12% weight loss at 72 weeks for participants who took the highest dose of the medication. On average, participants lost 7.8% to 12.4% of their body weight, and 40% of people on the highest dose lost more than 15%, Eli Lilly reported. The most commonly reported side effects included gastrointestinal issues consistent with other GLP-1s, such as nausea, vomiting, and diarrhea. Five to ten percent of patients discontinued the drug across doses, the company said, which was one of two late-stage trials the drug must pass before being submitted for federal approval. While Eli Lilly saw the results as indicators of success, investors on the call expressed concerns. Some had hoped that its efficacy would more closely resemble that of existing injections on the market — which can result in up to a 20% body weight loss — while others noted the trial drop-out rate of 12% due to side effects or personal reasons. When will the weight loss pill hit the market? While there is not yet an official timeline, Eli Lilly executives have said they plan to submit orforglipron for federal approval by the end of the year. Reviews of New Drug Approval submissions to the FDA usually last one to two years before a drug is greenlit for manufacturing. Contributing: Alysa Guffey, Indianapolis Star; Reuters
Yahoo
3 days ago
- Business
- Yahoo
Eli Lilly Sinks After Obesity Pill Shows Mixed Results
The market wasn't happy with Eli Lilly's (LLY, Financials) highly anticipated weight-loss medication trial findings that recently came out. The drug, which was taken once a day, helped people lose roughly 12% of their body weight over the course of 72 weeks. That's good, but not as good as the 15% some experts had Thursday, shares fell 13% as investors took in the news. Some people said the drug would transform the game, while others couldn't get past the adverse effects. More than 10% of those on the highest dose dropped out, largely because they were sick and threw up. This is more than with other injectable GLP-1 medicines like the appeal is clear: a needle-free solution that is easy to use in a market with high demand and low supply. David Ricks, the CEO, didn't care about the selloff and said the results were "right on thesis." Lilly wants to get the drug approved by the end of the year and have it on the market by next summer at the are different opinions among doctors. Some people think it's a big step forward for people who are afraid of needles. Others say that excitement should be kept in check because it won't matter how easy it is to take if too many people are now waiting for the deeper data dive in September, which could change their minds. For now, it's a promising drug, but it's not the huge hit that bulls were hoping for. This article first appeared on GuruFocus.
Forbes
3 days ago
- Business
- Forbes
Here's Why Eli Lilly Shares Are Plummeting
Shares of Eli Lilly plummeted 14% on Thursday, pacing what would be the stock's largest loss in decades after the pharmaceutical giant unveiled data for its obesity treatment pill that fell behind Wall Street's expectations. Shares of rival Novo Nordisk rose as both companies develop weight loss pills. NurPhoto via Getty Images Eli Lilly's shares dropped more than 14% to around $639 as of about 2:25 p.m. EDT, marking what would be the company's steepest single-day loss since a 29% decline on Aug. 8, 2000. Eli Lilly on Thursday released data for its daily obesity pill, orforglipron, which found the medication helped obese or overweight patients without diabetes lose just over 12% of their body weight in a late-stage trial, behind analyst expectations of 15%, according to FactSet. The highest dosage of Eli Lilly's experimental pill helped more than 59% of patients lose at least 10% of their body weight, while nearly 40% of patients lost at least 15%, and the company said orforglipron helped lessen cardiovascular risks. The findings trailed late-stage trial data from Novo Nordisk, which reported average weight loss of 15% among patients who used an oral version of its Wegovy treatment earlier this year. Eli Lilly CEO David Ricks told CNBC the company was 'not disappointed with these results,' which he noted were 'right on thesis for us' despite falling 'one or two points below what [Wall Street] had.' Orforglipron's average weight loss was 'in the range' of what consumers would want to achieve, Ricks said. Surprising Fact Earlier testing of orforglipron in adults with Type 2 diabetes impressed investors in April, after Eli Lilly reported the highest dose of orforglipron helped patients lose nearly 8% of their body weight, or roughly 16 pounds on average, over a 40-week trial. That data matched Wall Street's projections, and Eli Lilly said trial data indicated its pill helped patients with Type 2 diabetes lower their blood sugar and had safety similar to weight-loss injections already on the market. Eli Lilly's shares surged more than 14% at the time, one of the company's largest single-day gains in the last five years. Shares of Novo Nordisk rose more than 7% by Thursday afternoon in the wake of Eli Lilly's worse-than-expected trial report. Key Background Several pharmaceutical firms, including Eli Lilly, Pfizer and Novo Nordisk, have competed to develop a weight-loss pill following the commercial success of Novo's Ozempic and Wegovy in recent years. Some health experts have argued an oral weight-loss medication would be cheaper to produce and greatly expand the market to more consumers compared to injections, which are the only forms of the drugs currently available. Eli Lilly indicated it would file for regulatory approval of orforglipron by the end of the year, while Novo Nordisk's treatment is currently under regulatory review, with a decision by the Food and Drug Administration reportedly expected in late 2025. Testing of Pfizer's twice-daily danuglipron was abandoned by the company after trial data suggested the drug could adversely affect the liver. Roche and Viking Therapeutics are similarly developing oral weight-loss drugs and reported average weight loss of 6.1% and 8.2% in early- and mid-stage trials, respectively. Further Reading Forbes Novo Nordisk Shares Plunge 21% Toward Worst Day In 40 Years—As Ozempic Sales Expected To Slow By Ty Roush
