Eli Lilly Adjusts Outlook, CEO David Ricks Explains Revenue Shortfall
1. LLY anticipates $45 billion revenue for 2024, below expectations. 2. Growth driven by Mounjaro and Zepbound sales, but COVID impacts sales forecasts. 3. CEO cites Medicare Part D changes affecting GLP-1 prescription dynamics. 4. Stocking levels dropped significantly in Q3, impacting revenue projections. 5. Analysts express concern about underlying demand for LLY's products.