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☆ Why Eli Lilly's earnings are no sure thing for traders despite obesity drug momentum
▼ + stars: | 2024-04-29 | by ( Christina Cheddar Berk | In | ) www.cnbc.com time to read: +5 min

Tirzepatide is the active ingredient in both Eli Lilly's diabetes treatment Mounjaro and its anti-obesity drug Zepbound. Based on that calculation, earnings will be lower by about 13 cents per share, he said, in research published last Tuesday. "Strong demand for Mounjaro & Zepbound can easily pull through in 2H24 and make up for any 1H24 shortfalls." For the week ended April 19, combined prescriptions of Mounjaro and Zepbound rose 63% year over year, according to IQVIA. Wells Fargo Mohit Bansal said he expects investors to look past any Trulicity shortfalls as the focus is firmily on Zepbound and Mounjaro for Lilly's future growth.

Persons: Eli Lilly, Eli, James Shin, Lilly, Shin, David Risinger, Zepbound, Wells, Bansal, Jo Walton, Walton, Lilly's, Tirzepatide, Deutsche Bank's Shin, — CNBC's Michael Bloom Organizations: Drug Administration, Deutsche Bank, IMS, UBS, Research, Deutsche, FDA Locations: 2H24, U.S

☆ Wells Fargo becomes bullish on this biotech company
▼ + stars: | 2024-04-24 | by ( Hakyung Kim | ) www.cnbc.com time to read: +1 min

Neurocrine Biosciences ' drug pipeline is turning a corner and the company will be "knocking on the doors of the large-cap club" soon, according to Wells Fargo. Bansal forecasts the company's congenital adrenal hyperplasia treatment, crinecerfont, will achieve $1.5 billion in peak sales, topping his prior $1.1 billion estimate. "We think [the] Crinecerfont [opportunity] is underappreciated as the Street is only giving credit for $500-$700M peak opportunity." Bansal said this drug could open "a whole new chapter" of a $1.2 billion peak sales opportunity. The NBI-'845 treatment could be "another blockbuster opportunity," Bansal said, citing the treatment's once-daily administration as a factor in his assessment.

Persons: Mohit, Bansal, Takeda, — CNBC's Michael Bloom Organizations: Biosciences Locations: Wells Fargo

The firm downgraded the cosmetics stock to hold from buy but maintained $530 per share price target. The firm maintained a neutral rating alongside a $13 per share price target, implying nearly 10% upside ahead. The firm is standing by an underperform rating on Robinhood stock with a $12 per share price target. HSBC downgraded the software stock to hold but maintained its $22 per share price target. First Solar shares have lagged in 2024, losing 11.6% amid concern that Federal Reserve rate cuts may not arrive until later than anticipated.

Persons: Ulta, Anthony Chukumba, Chukumba, Brian Evans, Christopher Danely, — Brian Evans, Robinhood's, Robinhood, LSEG, JPMorgan's Kenneth Worthington, Goldman Sachs, Will Nance, America's Craig Siegenthaler, Wells, Biogen, Mohit Bansal, Stephen Bersey, Christopher Dendrinos, Dendrinos, Fred Imbert Organizations: CNBC, U.S, Wednesday, RBC, HSBC, Palantir, Citi, Revenue, Bank, America's, Technologies, RBC Capital Markets, Enphase Energy, Shoals Technologies Locations: 2024e, Tuesday's, U.S

☆ These are the most overbought stocks due for a pullback during S&P's run to 5,000
▼ + stars: | 2024-02-09 | by ( Pia Singh | ) www.cnbc.com time to read: +4 min

Stocks have raced ahead this year, with the S & P 500 trading above the historic 5,000 level. Stocks that have a 14-day RSI greater than 70 are considered to be overbought, meaning they could be at risk of a pullback. Several firms, from Deutsche Bank to Bank of America, walked away from the company's earnings release even more encouraged about its future. On average, analysts have a $111.38 price target on Disney, indicating less than 1% upside from the entertainment giant's last close. Other overbought companies in the S & P 500 are Boston Scientific and Ralph Lauren , which saw shares reach a 9-year high on the company's earnings beat this week.

Persons: Eli Lilly, Morgan Stanley, Eli Lilly's, Wells, Mohit Bansal, LLY, Walt Disney, Berkshire Hathaway, Nelson Peltz, Ralph Lauren Organizations: Nvidia, Dow Jones, CNBC, Stock, Deutsche Bank to Bank of America, Berkshire, Disney, Epic Games, ESPN, Boston Scientific Locations: Zepbound, Fortnite

☆ Merck quarterly profit tops expectations on COVID pill surprise
▼ + stars: | 2023-10-26 | by ( Michael Erman | ) www.reuters.com time to read: +2 min

The Merck logo is seen at a gate to the Merck & Co campus in Rahway, New Jersey, U.S., July 12, 2018. Merck raised Lagevrio full-year sales forecast to $1.3 billion. Third-quarter sales of Merck's top-selling cancer immunotherapy, Keytruda, stood at $6.34 billion, surpassing analysts' average estimate of $6.22 billion. Gardasil, its vaccine to prevent cancers caused by human papillomavirus (HPV), generated sales of $2.59 billion, rising 13% but missing analysts' average estimate of $2.69 billion. The company posted sales of $15.96 billion in the reported quarter, compared to the average analyst estimate of $15.3 billion.

Persons: Brendan McDermid, Molnupiravir, Merck, Wells, Mohit Bansal, drugmaker, Michael Erman, Leroy Leo, Bill Berkrot Organizations: Merck, Co, REUTERS, Merck & Co, Pfizer's, Thomson Locations: Rahway , New Jersey, U.S, Japan, United States, EU

☆ Pfizer, BioNTech shares fall on lower COVID product sales forecast
▼ + stars: | 2023-10-16 | by ( Ludwig Burger | ) www.reuters.com time to read: +2 min

REUTERS/Dado Ruvic/File photo Acquire Licensing RightsOct 16 (Reuters) - Shares of Pfizer (PFE.N) and German partner BioNTech (22UAy.DE) fell on Monday after the U.S. drugmaker slashed the sales forecast for its COVID vaccine and therapy last week, and some analysts said the reduction was bigger than expectations. The COVID sales forecast cut was bigger than expected, Wells Fargo analyst Mohit Bansal said, adding that Wall Street's COVID sales estimates for the next few years may come down. Shares in BioNTech, which is also developing cancer treatments, were down 6.7% at a two-month low in Frankfurt. Its U.S.-listed shares fell 6.8% in premarket trading, while Pfizer's shares fell 2%. The news also dragged down shares of rival COVID vaccine maker Moderna (MRNA.O) by 4.7%.

Persons: Dado, BioNTech, drugmaker, Wells, Mohit Bansal, Ludwig Burger, Rachel More, Miranda Murray, Jason Neely, Shounak Organizations: COVID, Institute for Health, Food, REUTERS, Pfizer, U.S, Its U.S, Moderna, Manas Mishra, Thomson Locations: Zenica, Bosnia, Herzegovina, Wells Fargo, BioNTech, Frankfurt, Its, Bengaluru

He said that once implemented, the prices on negotiated drugs will decrease for up to 9 million seniors who currently pay as much as $6,497 in out-of-pocket costs per year for these prescriptions. This kicks off the negotiation process for the 10 drugs whose new prices will go into effect in 2026. U.S. laws had prohibited Medicare from negotiating pharmaceutical prices as part of its prescription drug program that began about 20 years ago. CMS Director Dr. Meena Seshamani said Medicare plans to use a review process to make sure insurance companies keep clinically appropriate access to negotiated drugs. Two analysts said they expect the negotiated prices to move beyond Medicare and affect commercial markets for these drugs by 2026, when they come into effect.

Persons: Joe Biden, Jonathan Ernst, Biden, Joe Biden’s, Januvia, Xarelto, Johnson, Boehringer Ingelheim, Eli Lilly's, Jardiance, Mohit Bansal, Entresto, Eli Lilly, Merck, Bristol Myers, Giovanni Caforio, Caforio, enrollees, Meena Seshamani, Stelara, Amgen, Evan Seigerman, Patrick Wingrove, Mike Erman, Manas Mishra, Nandita Bose, Caroline Humer, Bill Berkrot Organizations: Social Security, University of Tampa, REUTERS, U.S, Bristol Myers Squibb, Pfizer, Merck, Co's, Johnson, Novo Nordisk, NYSE Arca Pharmaceutical, U.S . Centers, Medicare, Medicaid Services, Reuters Graphics Wells, Novartis, AstraZeneca, Bristol, J, U.S . Department of Health, Human Services, BMO Capital, Thomson Locations: Tampa , Florida, U.S, Amgen's, Jardiance, Germany, Bengaluru, Washington

☆ Why this landmark cardiac study means a bigger market for Lilly's blockbuster weight loss drug
▼ + stars: | 2023-08-09 | by ( Christina Cheddar Berk | ) www.cnbc.com time to read: +7 min

A landmark study of the cardiovascular benefits of weight loss drug Wegovy is being seen as a pivotal step toward broadening access to these drugs. The drug, also known as tirzepatide, is expected to be approved for weight loss by the Food and Drug Administration by year-end. Notably, Medicare does reimburse obese patients for weight loss surgery, but Mounjaro has been able to help patients realize an average weight loss that approaches the typical success of bariatric procedures. If CMS is able to reimburse patients for weight loss treatment that would significantly increase access, boosting sales. "This is the first time a weight [loss] medicinal intervention has shown to have cardiovascular risk reduction.

Persons: enrollees, Eli Lilly, Lilly, Akash Tewari, NVO, Tewari, Wells, Mounjaro, Mohit Bansal, Robert Califf, Goldman Sachs, Chris Shibutani, Shibutani, Goldman, Refinitiv, Morgan Stanley, comorbidities, Bansal Organizations: Nordisk's Ozempic, Centers for Disease Control, Food and Drug Administration, Jefferies, Medicare, Services, GLP, STAT, Goldman, Lilly, Novo Nordisk, BMI, Novo Locations: U.S, GLP, Tuesday's

☆ Wells Fargo's Mohit Bansal sees durable growth behind Eli Lilly's blockbuster products
▼ + stars: | 2023-08-08 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWells Fargo's Mohit Bansal sees durable growth behind Eli Lilly's blockbuster productsMohit Bansal, Wells Fargo equity analyst, joins 'Power Lunch' to discuss Eli Lilly quarterly results as shares soar on Q2 earnings and revenue beats.

Persons: Wells, Mohit, Eli Lilly's, Eli Lilly Locations: Wells Fargo

☆ Analysts give their reads on LLY, UPS & AMC earnings
▼ + stars: | 2023-08-08 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAnalysts give their reads on LLY, UPS & AMC earningsMohit Bansal, Wells Fargo equity analyst, Amit Mehrotra, Deutsche Bank transports analyst, and Alicia Reese, Wedbush, join 'Power Lunch' to give the read on Eli Lilly, UPS and AMC earnings.

Persons: Amit Mehrotra, Alicia Reese, Wedbush, Eli Lilly Organizations: UPS, AMC, Deutsche Bank Locations: Wells Fargo

An Eli Lilly and Company pharmaceutical manufacturing plant is pictured at 50 ImClone Drive in Branchburg, New Jersey, March 5, 2021. REUTERS/Mike Segar/File PhotoAug 8 (Reuters) - Eli Lilly (LLY.N) on Tuesday raised its annual forecasts after beating estimates for quarterly results, driven by strong demand for its new diabetes drug Mounjaro, ahead of a decision on its use as a weight-loss treatment. The company is leaning on Mounjaro, approved last May in the U.S. for diabetes, to soften the hit from insulin price cuts and competition for cancer therapy Alimta. A decision on Mounjaro to treat obesity, expected later this year, could help the drugmaker tap a multi-billion dollar market. Lilly now expects annual revenue in range of $33.4 billion to $33.9 billion, compared with its prior range of $31.2 billion to $31.7 billion.

Persons: Eli Lilly, Mike Segar, Mounjaro, Wells, Mohit Bansal, Lilly, Bhanvi Satija, Mariam Sunny, Sriraj Organizations: Company, REUTERS, Novo Nordisk, Thomson Locations: Branchburg , New Jersey, U.S, Bengaluru

☆ Regeneron expects FDA decision on higher-dose Eylea this year
▼ + stars: | 2023-08-03 | by ( Khushi Mandowara | ) www.reuters.com time to read: +2 min

The Regeneron Pharmaceuticals company logo is seen on a building at the company's Westchester campus in Tarrytown, New York, U.S. September 17, 2020. REUTERS/Brendan McDermid/File PhotoAug 3 (Reuters) - Regeneron Pharmaceuticals (REGN.O) expects a U.S. decision on a higher-dose version of its blockbuster eye disease drug Eylea in the third quarter, much earlier than market expectations, sending its shares up 5% on Thursday. The U.S. Food and Drug Administration declined to approve the higher-dose version in June following an inspection at third-party manufacturer Catalent (CTLT.N). Regeneron said it has been submitting manufacturing data required by the FDA on a rolling basis, and expects to finish the submissions by mid-August. Regeneron said the higher-dose Eylea was manufactured on the same line as pozelimab, its experimental drug being reviewed to treat a rare blood disease.

Persons: Brendan McDermid, Regeneron, Wells, Mohit Bansal, Bayer, Sanofi, Khushi, Sriraj Organizations: Regeneron Pharmaceuticals, REUTERS, U.S . Food, Drug Administration, FDA, Thomson Locations: Westchester, Tarrytown , New York, U.S, Eylea, Bengaluru

☆ Biogen to cut 1,000 jobs to save costs as Alzheimer's drug launch gathers pace
▼ + stars: | 2023-07-25 | by ( ) www.reuters.com time to read: +2 min

Investors have pinned their hopes on Leqembi as sales of multiple sclerosis drug Tecfidera take a hit from cheaper generic rivals while spinal muscular atrophy drug Spinraza faces rival treatments by Novartis (NOVN.S) and Roche (ROG.S). "Biogen's business is in transition," said CEO Christopher Viehbacher, who was hired in November to help power up growth and put behind a series of setbacks for older Alzheimer's drug Aduhelm. Multiple sclerosis treatments Avonex and Vumerity, as well as SMA therapy Spinraza, beat analyst estimates, while Tecfidera missed expectation as it faced generic rivals. "We see no unexpected surprises in Q2 results, allowing investors to focus on Alzheimer's," said Wells Fargo analyst Mohit Bansal. Reporting by Manas Mishra and Mariam Sunny in Bengaluru; Editing by Sriraj KalluvilaOur Standards: The Thomson Reuters Trust Principles.

Persons: Roche, Christopher Viehbacher, Tecfidera, Wells, Mohit Bansal, Manas Mishra, Mariam Sunny, Sriraj Organizations: Biogen, Novartis, Thomson Locations: Massachusetts, Bengaluru

☆ Biogen to cut 1,000 jobs to save costs as company prepares for Leqembi launch
▼ + stars: | 2023-07-25 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +2 min

Biogen on Tuesday said it expects to cut approximately 1,000 jobs, or about 11% of its workforce, to save costs as the biotech company prepares to launch its newly approved Alzheimer's drug Leqembi. It's the latest round of layoffs after Biogen slashed nearly 900 jobs last year. The larger plan is expected to generate approximately $1 billion in gross operating expense savings by 2025, according to Biogen. About $300 million of those savings will be reinvested into product launches and R&D programs. "There's a need, obviously, to have a strong investment in our new product launches.

Persons: Chris Viehbacher, Wells, Mohit Bansal

☆ Morgan Stanley sees profound shift in diabetes treatment boosting opportunity for weight-loss drugs
▼ + stars: | 2023-07-25 | by ( Christina Cheddar Berk | ) www.cnbc.com time to read: +6 min

Morgan Stanley analysts said they are seeing a profound shift in the way diabetes is being treated, with doctors intensifying the focus on weight management, which is accelerating the uptake of GLP-1 medications. Meanwhile, Eli Lilly has been approved to sell Mounjaro, or tirzepatide, as a Type 2 diabetes treatment. Both GLP-1 medications have attracted a lot of attention for their ability to lower blood sugar, curb food cravings and help patients with weight loss. Morgan Stanley said GLP-1 medicines now make up nearly 30% of all new diabetes prescriptions in the U.S. About 22% of all diabetes prescriptions are for this class of drug. The analysts now anticipate the market for GLP-1 medications will reach $77 billion in 2030, up from a prior forecast of $54 billion.

Persons: Morgan Stanley, Lilly GLP, Eli Lilly, Lilly, GLP, Morgan, Wells, Mohit Bansal, Bansal, he's, — CNBC's Michael Bloom Organizations: Novo Nordisk, Food and Drug Administration, U.S, GLP Locations: U.S, Wells Fargo

☆ Pfizer to end development of experimental obesity pill due to elevated liver enzymes
▼ + stars: | 2023-06-26 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +3 min

Pfizer on Monday said it would stop developing its experimental obesity and diabetes pill, lotiglipron, due to elevated liver enzymes in patients who took the drug once a day in mid-stage clinical studies. New York-based Pfizer said it will instead focus on its other oral obesity drug, danuglipron, which is in a fully enrolled phase two clinical trial. Pfizer CEO Albert Bourla has said that an obesity pill could eventually generate $10 billion each year for the company. The new class of obesity drugs is piquing public interest and causing a weight loss industry gold rush. Analysts believe Eli Lilly’s pill has an edge over Pfizer’s danuglipron.

Persons: William Sessa, Albert Bourla, Eli Lilly, Eli Lilly’s, danuglipron, Wells, Mohit Bansal, orforglipron, Bansal Organizations: Pfizer, Novo Nordisk, National Institutes of Health Locations: New York, danuglipron

☆ Merck sues US government to halt Medicare drug price negotiation
▼ + stars: | 2023-06-06 | by ( Michael Erman | ) www.reuters.com time to read: +4 min

NEW YORK, June 6 (Reuters) - Merck & Co (MRK.N) sued the U.S. government on Tuesday, seeking to halt the Medicare drug price negotiation program contained in the Inflation Reduction Act (IRA), which it argues is violates the Fifth and First Amendments to the U.S. Constitution. The Biden administration's drug pricing reform aims to save $25 billion annually by 2031 through price negotiations for Medicare. Merck called the talks with CMS coercive and forces drugmakers to participate in "political Kabuki theater" by pretending negotiations are voluntary. The first ever Medicare drug price reduction process is due to begin in September when CMS identifies its 10 most costly drugs. Merck's top selling drug, cancer immunotherapy Keytruda, could be subject to negotiations as soon as 2028.

Persons: drugmakers, Merck, Ameet, Robin Feldman, Wells, Mohit Bansal, Xavier Becerra, Chiquita Brooks, Michael Erman, Patrick Wingrove, Edwina Gibbs, Nick Zieminski Organizations: YORK, Merck & Co, U.S, U.S . Constitution, Biden, Medicare, District of Columbia, Merck, Reuters, CMS, Harvard Medical School, UC College of the, Supreme, U.S . Department of Health & Human Services, Centers, Medicaid Services, LaSure, HHS, Thomson Locations: U.S ., U.S, San Francisco

☆ Obesity drug could be a 'big upside' for Eli Lilly, says Wells Fargo's Mohit Bansal
▼ + stars: | 2023-05-03 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailObesity drug could be a 'big upside' for Eli Lilly, says Wells Fargo's Mohit BansalMohit Bansal, Wells Fargo managing director, joins 'Fast Money' to talk Eli Lilly drug trials, it's competition with Biogen for an alzheimer's drug, and more.

☆ Positive Alzheimer's drug trial data pushes Eli Lilly shares to another all-time high and brightens our outlook
▼ + stars: | 2023-05-03 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +7 min

LLY 1Y mountain Shares of Eli Lilly over the past 12 months. The FDA granted accelerated approval to an anti-amyloid drug — developed by Japanese pharmaceutical firm Eisai and U.S.-based partner Biogen (BIIB) — in early January. For Eli Lilly, specifically, Seigerman said the donanemab data appears to be a "home run." Eli Lilly said two participants in the Phase 3 trial died due to ARIA side effects, while a third patient did after a serious ARIA incident. The Eli Lilly logo is shown on one of the company's offices in San Diego, California, September 17, 2020.

☆ EIi Lilly's weight-loss drug is 'much better' than others on the market, says Wells Fargo's Bansal
▼ + stars: | 2023-05-01 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEIi Lilly's weight-loss drug is 'much better' than others on the market, says Wells Fargo's BansalMohit Bansal, Wells Fargo managing director, joins 'Fast Money' to discuss Eli Lilly's recent stock performance as demand for its weight-loss drugs climb.

☆ Moderna shares fall despite promising data from cancer vaccine trial
▼ + stars: | 2023-04-17 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +2 min

Shares of Moderna fell Monday as Wall Street chewed over new trial results on the personalized cancer vaccine it is developing with Merck . Those results, presented at an American Association for Cancer Research meeting in Florida, add to the initial results on the treatment combination released in December. Analysts from SVB Securities said the results suggest the personalized cancer vaccine shows promise. Wells Fargo analyst Mohit Bansal also said he's expressing "cautious optimism" about the treatment combination. In a Sunday note, Bansal pointed to "trial imbalances" that potentially produced more favorable results for the personalized cancer vaccine.

☆ Pfizer signs $43 bln Seagen deal in cancer drug push
▼ + stars: | 2023-03-13 | by ( Manas Mishra | ) www.reuters.com time to read: +2 min

The deal, Pfizer's biggest in a string of acquisitions after a once-in-a-lifetime cash windfall from its COVID-19 vaccine and pill, will add four approved cancer therapies with combined sales of nearly $2 billion in 2022. Pfizer will pay $229 in cash per Seagen share, a 32.7% premium to Friday's closing price. The drugmaker expects more than $10 billion in "risk-adjusted" sales from Seagen in 2030. Pfizer's portfolio of oncology therapies includes 24 approved drugs, including breast cancer treatment Ibrance. Pfizer rival Merck & Co Inc (MRK.N) and Seagen were in advanced deal talks last year but that reportedly collapsed over fears of tough antitrust scrutiny.

☆ Wells Fargo downgrades Pfizer, says the stock needs a 'Covid reset' to work again
▼ + stars: | 2023-01-17 | by ( Carmen Reinicke | ) www.cnbc.com time to read: +2 min

Shares of Pfizer need a reset from the Covid-19 pandemic before they will work again, according to Wells Fargo. "We think PFE needs a COVID reset before the stock could work again," analyst Mohit Bansal wrote in a note. Lower revenue, higher expenses Wells Fargo lowered its 2023-2025 earnings per share estimates on the company due to lower Covid revenues and higher expenses. Even including China demand, Wells Fargo is below consensus on the drug, seeing limited opportunity in the country without national reimbursement. The Covid reset could happen when guidance is provided on the company's fourth-quarter 2022 earnings call, Bansal said.

☆ Eisai, Biogen's new Alzheimer's drug should be priced below Aduhelm - report
▼ + stars: | 2022-12-23 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Issei KatoDec 23 (Reuters) - An influential drug pricing research group said Eisai Co Ltd (4523.T) and Biogen Inc's (BIIB.O) new Alzheimer's disease treatment lecanemab should be priced lower than the drug Aduhelm that was developed by the companies. Biogen halved the price of its first Alzheimer's drug Aduhelm last year to $28,200 for a person with average weight, amid tepid sales and reimbursement hurdles. Treatment with lecanemab for patients with Alzheimer's appears to be "promising but inconclusive," ICER said. Eisai and Biogen did not immediately respond to requests for comment on the ICER report. Shares of Eisai fell on Friday after a report of a third death in a trial of lecanemab.

☆ Eli Lilly's bleak annual forecast overshadows quarterly beat
▼ + stars: | 2022-11-01 | by ( ) www.reuters.com time to read: +2 min

The company's shares fell nearly 4% in premarket trading as a forecast cut for the third time this year overshadowed strong performance by its newly approved diabetes drug. The drugmaker also trimmed its full-year revenue forecast, citing a $300 million hit to its revenue from the strong dollar. Lilly now sees revenue in the range of $28.5 billion to $29 billion, below analysts' estimates of $28.76 billion at mid-point. Lilly flagged a total impact of about $1 billion from the strong dollar for the full year. The company posted better-than-expected results for the third quarter, as demand for its recently approved diabetes drug, Mounjaro, helped counter declining sales of its diabetes and cancer treatments.

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