Lilly comfortably cleared analyst estimates in the second quarter after improving supply of its blockbuster tirzepatide brands Mounjaro and Zepbound, which together generated more than $4 billion in sales.
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The U.S. Food and Drug Administration’s website lists some doses of Mounjaro and Zepbound as being in limited supply. Mounjaro has been on the FDA’s shortage list since late 2022.
The company has spent billions to boost production – mostly in its native Denmark and in the United States – as it has struggled to meet huge demand.
Emergent BioSolutions said Johnson & Johnson has agreed to pay $50 million to settle claims related to a terminated manufacturing deal for the latter’s COVID-19 vaccine.
In a recent GlobalData survey, “The State of the Biopharmaceutical Industry 2024 (mid-year update)”, 73% of surveyed healthcare industry professionals felt optimistic or very optimistic about the industry’s growth during the next 12 months, up by 13% from the data received six months ago (60%) and up a further 13% from 2023 (47%), but still below the levels seen in 2022 (81%).
Apart from an impact of about $40 million cut in inventory, Regeneron said changing market dynamics that resulted in lower volumes and lower selling price also hurt eye drug Eylea sales.
According to the agency’s website, most doses of Eli Lilly’s diabetes drug Mounjaro and weight-loss drug Zepbound would be in limited supply through the second quarter of this year due to increased demand.
The German company reported in February that it expects to grow an average of 10% per year. Nearly half of that is anticipated to come from its association with drugs in the GLP-1 class.
Novo Nordisk’s investment of more than half a billion dollars is meant to expand its production capabilities in China and help it meet the global drug demand.
The company expects to reach 90% of its target for integrated delivery networks (IDNs) used to administer the drug in the U.S. in the fiscal year ending this month, its CEO stated.