Robust Quarterly Earnings seen for Eli Lilly, Novo Nordisk, Moderna, and Regeneron Amid Success of Key Drugs
November 2, 2023
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]
