Eli Lilly misses 2024 revenue numbers, but GLP-1 pill may help
Global pharmaceutical company Eli Lilly's (LLY) preliminary 2024 revenue missed expectations on lower-than-expected sales of its weight loss and diabetes shots. According to the company, sales are expected to hit $45 billion, below analysts' estimated $45.5 billion. Jared Holz, Mizuho's healthcare equity strategist, joins Morning Brief to share his insights, suggesting the market may be overreacting. Regarding Eli Lilly’s position in the pipeline for its next blockbuster drug, Holz notes that "they don't really have an obvious patent situation" like other companies in the pharmaceutical sector. Holz also highlights that Eli Lilly's pipeline, especially in GLP-1 treatments, remains promising for long-term growth. "The GLP-1 class is the most important category by far, and they're going to have oral data for a pill, I think, sometime in the first half of this year [toward] the spring, summer timeframe," he explains. "That could serve as a big catalyst for the stock." To watch more expert insights and analysis on the latest market action, check out more Morning Brief here. This post was written by Josh Lynch
