Eli Lilly Lowers 2024 Revenue Forecast as Weight-Loss Drug Sales Lag

The pharmaceutical company revises Q4 revenue estimates down by $500 million, citing slower-than-expected sales of key drugs Mounjaro and Zepbound.

Eli Lilly reduced its Q4 2024 revenue forecast to $13.5 billion, missing analysts’ consensus of $14 billion by $500 million.
The company also lowered its full-year 2024 revenue guidance to $45 billion, falling short of prior projections of $45.4–$46 billion.
CEO David Ricks cited lower-than-expected inventory levels and slower growth in the incretin-based drug market as key factors behind the revised outlook.
Despite the setback, Eli Lilly projects strong growth for 2025, with anticipated revenue of $58–$61 billion, exceeding 2024 levels by around 32%.
The company plans to ramp up production of its weight-loss drugs by 60% in the first half of 2025 to meet rising demand and address prior supply shortages.