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Despite supply issues being largely resolved, Eli Lilly reported weaker-than-expected sales for both Zepbound and Mounjaro in the third quarter. The company attributes this decline in sales to drug wholesalers cutting inventory of these medications, rather than a lack of demand or supply.
Eli Lilly fulfilled back orders for wholesalers in the previous quarter, leading to increased inventory of Zepbound and Mounjaro. However, wholesalers tapped into existing stock in the third quarter instead of purchasing more from the company, resulting in lower revenue for both treatments.
While some analysts believe that inventory issues can only explain part of the revenue misses, Eli Lilly remains confident in the strong demand for their medicines. The company has invested heavily in expanding manufacturing capacity for its injectable drugs to address supply challenges and meet the growing demand for weight loss and diabetes treatments.
In addition, Eli Lilly is gearing up to launch “demand-stimulating activities” for Zepbound in November, including advertising and providing drug samples to health-care providers. The company is also investing in its direct-to-consumer website to enhance patient access through telehealth prescriptions and direct home delivery of certain drugs.
Despite challenges in the market, Eli Lilly remains optimistic about the future of Zepbound and Mounjaro. The company’s commitment to innovation and addressing supply chain issues positions them as a leader in the pharmaceutical industry.
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