Eli Lilly's Q2 Sales Surge 36%, Analysts Cautious On Future Supply, Market Dynamics; Optimistic About Next-Gen Oral Weight-Loss Drug
Eli Lilly's Q2 Sales Surge 36%, Analysts Cautious On Future Supply, Market Dynamics; Optimistic About Next-Gen Oral Weight-Loss Drug
Eli Lilly And Co (NYSE:LLY) reported on Thursday second-quarter revenue of $11.3 billion, up 36% year-over-year, easily surpassing the consensus of $9.95 billion.
礼来（纽交所：LLY）周四报告了2012年第二季度营业收入达113亿美元，同比增长36%，轻松超过了预期的995亿美元。
Mounjaro sales tripled to $3.09 billion from $979.7 million a year ago. Zepbound sales reached $1.24 billion, up from $517.4 million reported in the first quarter of 2024 since it received FDA approval in November 2023.
从一年前的9797万美元增长到了309亿美元，蒙贾罗销售额翻了三倍，泽普邦德销售额达到了124亿美元，高于2024年第一季度的5174万美元，因为它在2023年11月获得FDA批准。
Goldman Sachs noted that Eli Lilly's second-quarter performance benefited from better channel dynamics and clearer manufacturing processes. However, they warned that rising demand might lead to occasional supply shortages for specific presentations and dose levels.
高盛指出，礼来的第二季度表现受益于更好的渠道动态和更清晰的制造工艺。然而，他们警告称，需求上升可能会导致特定品种和剂量水平偶尔出现供应短缺。
"The guidance raise is impressive," the analyst Chris Shibutani adds, raising the price target to $856 from $812.
分析师克里斯·渋山谈到：“预测的收盘行情令人印象深刻”，将价格目标从812美元上调到856美元。
The analyst maintains a Neutral rating as Goldman Sachs is closely watching the narrowing supply/demand gap, which reassures them about execution but raises questions about the total addressable market (TAM), competitor pipeline programs and the sustainability of pricing dynamics amid heightened expectations following recent results.
分析师维持中立评级，因为高盛正在密切关注供需缩小的差距，这使他们对执行感到放心，但又对总可寻市场（TAM）、竞争对手的管道项目和随着近期结果引发的期望升温而持续的定价动态的可持续性提出了疑问。
Truist Securities says Mounjaro and Zepbound continue to outperform.
Truist Securities表示，蒙贾罗和泽普邦德继续表现突出。
"We believe the recent lift of tirzepatide from the FDA shortage list could support a leadership position in obesity/diabetes management," analyst Srikripa Devarakonda adds.
分析师Srikripa Devarakonda补充道：“我们认为，最近将Tirzepatide从FDA短缺的列表中删除可能会支持肥胖症/糖尿病管理领域的领先地位。”
The analyst notes that tirzepatide could potentially be expanded for use in obstructive sleep apnea, osteoarthritis, cardiovascular issues, and renal conditions. They also see the potential for growth from upcoming developments, such as orforglipron, an oral GLP-1 for weight loss. Eli Lilly continues to invest in research and development across its main therapeutic areas to broaden its portfolio beyond its type 2 diabetes and obesity treatments.
分析师指出，Tirzepatide有望在阻塞性睡眠呼吸暂停、骨关节炎、心血管问题和肾病等领域进行扩展应用。他们还看到未来发展的潜力，例如Orforglipron，这是一种口服GLP-1，用于减肥。
Truist maintains the Buy rating with a price target of $1,000.
Truist维持买入评级，目标价1000美元。
Damien Conover, Morningstar director of healthcare equity research, also increased the fair value estimate for "wide moat" Eli Lilly to $580 from $540. "However, we believe the stock still looks overvalued," the analyst adds.
晨星医疗保健股权研究主管达米安·康诺弗还将“宽壕”礼来的公平价值评估从540美元上调至580美元。分析师补充说：“然而，我们认为股票仍然有些高估。”
The analyst forecasts strong sales for Mounjaro and Zepbound but believes the market is overly optimistic. Factors such as anticipated price drops, high patient costs, future competition beyond Novo Nordisk A/S (NYSE:NVO), tolerability concerns, and potential long-term safety issues might not be fully considered.
分析师预测，蒙贾罗和泽普邦德的销售业绩强劲，但认为市场过于乐观。预计价格下降、高昂的患者成本、诺和诺德公司（NYSE：NVO）以外的未来竞争、耐受性担忧和潜在的长期安全问题等因素可能没有被充分考虑。
On the pipeline, Morningstar is bullish on Eli Lilly's next-generation oral weight-loss drug, orforglipron.
在管道方面，晨星对礼来的下一代口服减肥药物Orforglipron持看好态度。
The recent launch of the Alzheimer's drug Kisunla has the potential to become a major blockbuster, though Morningstar analyst anticipates a gradual increase in its market uptake.
最近推出的阿尔茨海默病药物Kisunla有望成为一个主要的畅销品，不过晨星分析师预计其市场占有率将逐步增加。
LLY Price Action: Eli Lilly And Co. stock is up 5.58% at $892.50 at last check Friday.
LLY股票价格：礼来（Eli Lilly And Co）股票在上周五最后一次查询时以892.50美元上涨了5.58%。
- Eli Lilly's Zepbound Challenges Novo Nordisk's Wegovy Amid Supply Issues.
- 伊利制药的Zepbound在供应问题中挑战诺和诺德的Wegovy。
Photo: Rafapress on Shutterstock
图片来源：Shutterstock上的Rafapress