Eli Lilly and Novo Nordisk are boosting supply of their weight loss drugs, while Apple Watch’s heart monitoring tech was approved for use in clinical…
when they reported their financial results for the first quarter. Demand for their weight loss and diabetes medications has far outpaced supply over the last year, forcing the pair to invest heavily to scale up their manufacturing.by $2 billion, in part due to confidence about increased production of its weight loss drug Zepbound, diabetes treatment Mounjaro and similar drugs for the rest of the year.
KwikPen is a single four-dose pen that covers a month's treatment. Patients using current autoinjectors for weight loss and diabetes drugs Shares of Eli Lilly jumped more than 5% on the day it reported earnings on the raised guidance and supply updates. Still, Novo Nordisk missed Wall Street's estimates for sales of its weight loss drug Wegovy, even as supply and prescriptions for the drug increased during the quarter. Wegovy revenue more than doubled to 9.38 billion Danish kroner during the period, falling under analysts' expectations of 10.55 billion Danish kroner, according to FactSet.
We'll be continuing to watch how the supply landscape shifts throughout the rest of the year. Stay tuned for our coverage.Apple smartwatches ads are displayed as customers take a look at smartwatch accessories at the Apple store in New York, U.S., December 26, 2023.clinched a new nod of approval from the U.S. Food and Drug Administration for its heart monitoring technology last week.
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