Lilly Mounjaro, Zepbound Supply Issues Persist Amid Strong Growth

Performance of dual GLP-1/GIP agonist tirzepatide dominated Eli Lilly and Company’s Q1 sales and earnings call on 30 April, with the pharma reporting healthy annualized growth of Mounjaro in type 2 diabetes and a strong launch for Zepbound in obesity, but the emerging story was Lilly’s ongoing effort to increase manufacturing supply. Alongside brisk sales and payer concerns, matching supply to demand has been a key story for both Lilly and direct competitor Novo Nordisk A/S in the metabolic therapy arena.

Mounjaro posted revenues of more than $1.8bn during the quarter, growing 218% year-over-year, and yet still missed consensus estimates, according to a 30 April analysis by Wolfe Research’s Tim Anderson. (Also see "Tirzepatide Rules The Day On Lilly Earnings Call" - Scrip, 6 February, 2024.) Notably, the Mounjaro sales total decreased sequentially from $2.21bn in Q4 2023