Eli Lilly and Co

LLY: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$521.00	Llyb	Kskdncgv

Eli Lilly Earnings: Solid Results and Strong Mounjaro Data Set Up Robust Long-Term Growth Potential

Damien Conover

Apr 27, 2023

Eli Lilly reported solid first-quarter results slightly below our projections, and we don't expect any major changes to our fair value estimate. In tandem with earnings, Lilly disclosed strong phase 3 Mounjaro data (Surmount 2) reflecting 15.7% average weight loss on the highest dose. The strong data reinforces our peak annual sales estimate for the drug above $18 billion for both weight loss and diabetes.

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