Eli Lilly shares drop as drugmaker cuts revenue guidance on weight loss drug demand
1. Eli Lilly cut 2024 revenue guidance to $45 billion, below expectations. 2. Shares dropped approximately 6% following the news on revenue outlook. 3. Incretin drug sales, particularly Mounjaro and Zepbound, remain strong. 4. Wall Street's projections for Q4 revenues were also missed by Eli Lilly. 5. CEO notes unexpected growth slowdown in U.S. incretin market.