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Investing.com -- Eli Lilly and Company reported first-quarter earnings that fell short of analyst expectations on Wednesday, sending shares down 3.6% in premarket trading.
The pharmaceutical giant posted adjusted earnings per share of $3.34, missing the consensus estimate of $3.46. Revenue came in at $12.73 billion, slightly above the $12.72 billion analysts were expecting and up 45% YoY.
Lilly’s key diabetes and obesity drugs Mounjaro and Zepbound drove the strong revenue growth. Mounjaro sales more than doubled to $3.84 billion, while Zepbound revenue surged to $2.31 billion from $517.4 million a year ago.
However, the company lowered its full-year 2025 earnings guidance to $20.78-$22.28 per share, below the $22.40 analysts were forecasting. Lilly maintained its revenue outlook of $58-61 billion.
"Lilly had a solid start to the year, with 45% year-over-year revenue growth driven by strong sales of Mounjaro and Zepbound," said CEO David A. Ricks. "Our pipeline continued to deliver across key therapeutic areas, with product approvals in oncology and immunology, and the exciting success of our oral incretin, orforglipron, in the first of seven late-stage studies in diabetes and obesity."
Lilly said the guidance cut reflects $1.72 per share in acquired in-process research and development charges incurred in Q1.