Eli Lilly’s Stock Plummets Following Q3 Earnings Miss and Reduced Revenue Forecast

Earnings Miss:
Eli Lilly reported third-quarter earnings that fell short of Wall Street expectations, leading to a sharp decline in its stock price.

Revenue Forecast Cut:
The company lowered its revenue guidance for the year, citing a significant sales miss, particularly for its diabetes and weight-loss drugs.

Asset Reduction:
Alongside the revenue guidance cut, Eli Lilly also announced the elimination of three assets, further impacting its financial outlook.

Obesity Drug Sales:
The sales of Eli Lilly's obesity drugs, including Zepbound and Mounjaro, missed forecasts, contributing to the overall revenue shortfall.

Stock Impact:
The combination of the earnings miss and reduced revenue forecast led to a substantial drop in Eli Lilly's stock price, reflecting investor concerns over the company's financial performance.