Eli Lilly, Novo Nordisk, Moderna, and Regeneron posted solid quarterly earnings due to the success of their respective drug and pipeline development initiatives. Eli Lilly reported a 37% increase in revenue, boosted by the success of its diabetes and obesity treatment, Mounjaro, and other drugs. The company acquired several firms in Q3 and generated more than $1.4b in quarterly revenue from Mounjaro. Likewise, Novo Nordisk saw a 37% rise in operating profit, with a significant portion contributed by weight-loss drugs Ozempic and Wegovy. Meanwhile, despite reporting a net loss of $3.6 billion concerning resizing costs and a tax valuation allowance, Moderna expects to return to growth in 2025. Lastly, Regeneron’s revenues rose by 15% YoY to $3.36 billion, thanks to a 33% rise in Dupixent’s global net sales.
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[Source: MM+M, November 2nd, 2023]