Eli Lilly’s Drug Surpasses Keytruda as World’s Top-Selling Medicine
Eli Lilly has made headlines by surpassing Merck’s Keytruda to become the world’s top-selling medicine. This achievement comes as a result of remarkable sales figures for Lilly’s drug, tirzepatide, known commercially as Mounjaro for type 2 diabetes and Zepbound for obesity.
Eli Lilly’s Sales Surge
In the third quarter of this year, Lilly reported sales of tirzepatide at $10.1 billion. This has culminated in year-to-date sales reaching $24.8 billion. By contrast, Merck’s Keytruda, a cancer immunotherapy, generated $8.1 billion in the same quarter, totaling $23.3 billion year-to-date.
Key Comparisons in Market Performance
- Tirzepatide Sales (Mounjaro/Zepbound): $10.1 billion in Q3, $24.8 billion YTD
- Keytruda Sales: $8.1 billion in Q3, $23.3 billion YTD
Tirzepatide’s impressive performance is notable, considering it was approved for diabetes in 2022 and for obesity a year later. In comparison, Keytruda took nine years after its approval to achieve its best-seller status.
Market Predictions and Competition
According to analysts from Visible Alpha, tirzepatide is projected to generate approximately $32.2 billion in sales for the full year, while Keytruda is expected to bring in $31.8 billion. This rapid transition underscores the high demand for GLP-1-based drugs and the competitive landscape of the pharmaceutical market.
Novo Nordisk’s Response
Despite being early entrants with effective treatments such as Ozempic and Wegovy, Novo Nordisk is now in a tight race with Eli Lilly. Recent developments reveal that Novo Nordisk is pursuing an acquisition of biotech company Metsera, showcasing the fierce competition in the obesity treatment market.
Future Outlook
In its earnings report, Eli Lilly announced total revenue of $17.6 billion for the third quarter, surpassing analyst predictions of $16.1 billion. The company has raised its sales forecast for the year to between $63 billion and $63.5 billion, an increase from earlier estimates.
Adjusted Earnings Guidance
- Previous guidance for EPS: $21.75 to $23.00
- New guidance for EPS: $23.00 to $23.70
This revision indicates Eli Lilly’s confidence in its market position and future growth potential. The ongoing competition will continue to shape the dynamics within the pharmaceutical industry.
