Zepbound sales soar, Ozempic sales miss, and CVS shakes up its leadership: Pharma news round up
Sales of Zepbound and Mounjaro in the second quarter blew past analysts’ expectations, resulting in Eli Lilly raising its sales outlook for the year by $3 billion on Thursday. Conversely, its rival Novo Nordisk failed to meet sales expectations for its weight loss drugs, sending the company’s stock tumbling on Wednesday. Also on Wednesday, CVS Health announced that the head of its struggling insurance business is leaving the healthcare giant.
Check out those stories and more pharmaceutical news highlights from this week.
Getting your hands on Zepbound may get easier this year with new single-dose vials
Eli Lilly announced on Thursday that it’s finally launching single-dose vials for starter doses of its blockbuster weight loss drug Zepbound in the United States. The move will potentially help meet strong demand for the popular drug. — Bruce Gil
Zepbound and Mounjaro sales are so hot Eli Lilly increased its full-year sales outlook by $3 billion
People can’t get enough of Eli Lilly’s blockbuster diabetes and weight loss drugs Mounjaro and Zepbound. Sales of the highly-sought after drugs during the second quarter outperformed expectations, resulting in the pharma giant raising its revenue outlook for the year. — Bruce Gil
Novo Nordisk isn’t selling as much Wegovy and Ozempic as expected
Sales of Novo Nordisk’s blockbuster drugs Ozempic and Wegovy during the second quarter of the year failed to meet Wall Street’s expectations, sending the company’s stock tumbling on Wednesday. — Bruce Gil
CVS just split with its insurance boss and hit the gas on AI to cut costs
CVS Health said on Wednesday that the head of its struggling insurance business is leaving the healthcare giant, as its health benefits unit dragged down the rest of the company during the second quarter of 2024. — Bruce Gil
Cancer screening is a $43 billion business in the U.S.
The U.S. spent an estimated $43 billion on screenings for five types of cancers in 2021, according to a new study published Tuesday in the Annals of Internal Medicine. Screenings for colorectal cancer represented the largest share of the costs at 64%; colonoscopies alone accounted for 55% of total costs.— Bruce Gil
One type of stock didn’t see huge losses during this week’s market rout: Weight loss drug makers
Concerns about an economic downturn triggered a massive global sell-off on Monday, leading to steep declines in stock indexes worldwide and major tech stocks. However, the stocks of pharma companies that produce popular weight loss drugs like Wegovy and Zepbound managed to withstand the market turmoil better. — Bruce Gil
Zepbound is back on the shelves — but shortage isn’t over yet, FDA says
The U.S. Food and Drug Administration updated its drug shortage database on Friday, showing that all doses of Eli Lilly’s weight loss and diabetes drugs Zepbound and Mounjaro are now available. — Bruce Gil
Roche exec says weight-loss drug demand leaves room for latecomers
The global rise in obesity is expected to continue over the coming decade, so much so that Roche’s top leader on weight loss drugs believes that even if multiple upcoming treatments make it to market, they may still not be enough to address a looming health crisis. — Bruce Gil