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Eli Lilly’s Q2 Stumble Sparks Market Reaction Despite Strong Earnings
Eli Lilly’s Q2 Stumble Sparks Market Reaction Despite Strong Earnings
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Eli Lilly & Co. (LLY) faced an unexpected market downturn following its Q2 earnings report, despite outperforming analyst expectations. The pharmaceutical giant reported EPS of $6.31, surpassing the $6.07 consensus, while revenue hit $15.56 billion—a 5.83% beat. CEO David Ricks attributed the 38% YoY growth to robust sales of Zepbound and Mounjaro.
The decline stemmed from underwhelming clinical trial data for weight-loss drug orforglipron, which met its primary endpoint but failed to impress investors. The episode highlights the equities market's sensitivity to pipeline developments, even amid strong financials.
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