Lilly GLP-1 drugs drive Q3 profit, Novo Nordisk to buy Metsera

Eli Lilly reported that its two top-selling drugs for diabetes and weight loss drove more than half of the company’s third-quarter sales and helped push profit higher, underscoring intense demand for treatments in that sector as rival drugmakers pursue acquisition targets. Lilly said Thursday that Mounjaro and Zepbound generated more than $10 billion combined in the recently completed quarter, out of $17.6 billion in total revenue, and contributed to a $5.58 billion quarterly profit.

The performance reflects rapid uptake of GLP-1 receptor agonists, a class of medicines that mimic hormones acting on the gut and brain to reduce appetite and increase feelings of fullness. Lilly reported U.S. sales of its weight-loss injection Zepbound nearly tripled to $3.57 billion in the quarter, while revenue from the diabetes treatment Mounjaro doubled to $6.52 billion as sales expanded outside the United States. Together the two drugs have produced nearly $25 billion in sales so far this year for Indianapolis-based Lilly, a sum that already exceeds the company’s total revenue in 2020.

Supplies of GLP-1 drugs have improved this year, and some insurers have begun expanding coverage, making the...