Share price plunges as earnings forecast lowered

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After the stock price soared, the number of shareholders of Songfa Group increased significantly by 71.84% in the fourth quarter of last year. However, it has decreased significantly by 25.01% since the beginning of this year, and the latest number is 6,535.


Eli Lilly's stock price plummeted as demand for weight loss drugs fell short of expectations!

On Tuesday, January 14, Eastern Time, American pharmaceutical giant Eli Lilly released its full-year performance forecast for 2024 and performance guidance for 2025.

The company expects revenue for the fourth quarter of 2024 to be approximately $13.5 billion, a year-on-year increase of 45%; and full-year revenue to be approximately $45 billion, a year-on-year increase of 32%. But this was lower than the expected $14 billion and $45.5 billion, respectively.

The company explained that the growth in demand linkedin data for weight loss drugs was lower than expected, which affected its performance.

According to the company's announcement, Eli Lilly expects revenue to reach approximately $45 billion in 2024, a year-on-year increase of 32%. This is lower than the company's October forecast of $45.4 billion to $46 billion.

Eli Lilly also expects fourth-quarter 2024 revenue of approximately $13.5 billion, a year-on-year increase of 45%, but below analysts' average expectation of $14 billion.

Among them, the company's blockbuster diabetes drug Mounjaro had fourth-quarter revenue of approximately US$3.5 billion, and another weight loss drug Zepbound had fourth-quarter revenue of approximately US$1.9 billion, both lower than expected.

Demand for both drugs has soared over the past two years as Americans have rushed to buy them to lose weight. The company has invested more than $20 billion to increase supply, but now it faces the problem of having drug inventories exceeding expected demand.

The forecast “may not come as a huge shock to investors, but could still shake some confidence in the need for incretins,” said BMO Capital Markets analyst Evan Seigerman, referring to the drug class to which Zepbound belongs.