Eli Lilly Sales Jump 48% to $23 Billion; Company Raises Outlook Again

Eli Lilly's sales hit $23 billion last quarter, up 48% from a year earlier, fueled by its drugs Mounjaro and Zepbound. Profit per share rose 33% to $8.38, though $3.03 of that went toward buying rights to other companies' experimental drugs. The company raised its full-year forecast again. That deal-making habit shows Lilly depends on outside purchases to keep new drugs coming.