Eli Lilly increases production capacity

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Source: Dukascopy Bank SA


The US pharmaceutical firm Eli Lilly has announced a stunning financial quarter, as the firm has managed to increase production of weight loss drugs. The stock price of the company was set to start Thursday's trading with a gap up of nearly 9.00%.

The company has been experiencing major demand for its weight loss drugs. However, it had struggled to meet the demand, as just like its competitors, it did not have the capacity to produce and distribute the highly sought after drugs. On Wednesday, the main competitor Novo Nordisk announced that it has failed to meet quarterly expectations. Markets expected the same from Eli Lilly to be announced today.

Quite the opposite was revealed on Thursday. In fact, the firm has managed to breach the $1 billion sales benchmark for its weight loss drug Zepbound. Moreover, the company has increased its 2024 profit forecast by $3 billion.
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