The Eli Lilly & Co. logo at the company’s Digital Health Innovation Hub facility in Singapore, on Thursday, Nov. 14, 2024.
Ore Huiying | Bloomberg | Getty Images
Eli Lilly on Thursday hiked its 2025 guidance and posted second-quarter earnings that topped estimates on strong demand for its blockbuster weight loss and diabetes drugs.
Also on Thursday, Eli Lilly released long-awaited late-stage trial data on its experimental obesity pill, orforglipron, the highest dose of which helped patients lose more than 12% of their body weight. That came under Wall Street’s expectations, sending shares down more than 12% in premarket trading on Thursday.
Here’s what Eli Lilly reported for the second quarter compared with what Wall Street was expecting, based on a survey of analysts by LSEG:
- Earnings per share: $6.31 adjusted vs. $5.57 expected
- Revenue: $15.56 billion vs. $14.71 billion expected
The results also come as Eli Lilly and other drugmakers brace for President Donald Trump’s planned tariffs on pharmaceuticals imported into the U.S. and face his calls to lower drug prices in the country.
The president sent letters to Eli Lilly and other companies last week calling on them take steps to lower drug prices by Sept. 29. The move came after Trump in May signed an executive order reviving a controversial plan, the “most favored nation” policy, that aims to slash drug costs by tying the prices of some medicines in the U.S. to the significantly lower ones abroad.