Eli Lilly's Zepbound is off to a strong start, but here's what needs to happen to push shares higher
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Hopes are sky-high for Eli Lilly's recently launched weight loss drug Zepbound. Investors will be tuning into the company's fourth quarter earnings call on Feb. 6, eager to hear more about how that rollout is going. One key statistic will be the number of commercial health insurers providing coverage of the drug, which was approved by the Food and Drug Administration on Nov. 8. Lilly also is expected to reveal its outlook for 2024 for the first time. Zepbound, a once-a-week injection, has only been available in pharmacies since early December, but the average analyst expects that the drug's sales reached $75 million in the fourth quarter, according to StreetAccount. More importantly, by the end of 2024, analysts expect sales to ramp up to $3.79 billion, then more than double to $7.83 billion by 2025. Those estimates have been creeping higher heading into Eli Lilly's report, and analysts see the potential for further upside when Lilly provides its outlook. ...