(AOF) – Eli Lilly is expected to rise significantly in pre-market trading on Wall Street after announcing on Tuesday that it expects a profit above expectations for 2024. Over the last three months of 2023, adjusted earnings per share stand at $2.49 , up 19% over one year against $2.19 expected. Turnover increased by 28% to $9.35 billion, instead of the expected $8.93 billion. It benefited from the success of its Zepbound and Mounjaro products aimed at treating obesity and diabetes respectively.
The laboratory expects 2024 turnover between 40.4 and 41.6 billion dollars against a consensus of 39.14 billion. Adjusted earnings per share are expected between $12.20 and $12.70, in line with a consensus of $12.38.
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Oncology, priority of pharmaceutical giants
Sanofi’s stock market disappointment recorded at the end of October 2023 underlines the new direction for the group, which has now set oncology as its number 1 priority. Efforts in this segment, where therapies are advancing the fastest, notably involve investments in R&D which weigh on profitability. Sanofi therefore announced a drop in its earnings per share in 2024 and the abandonment of its objective of an operating margin of 32% in 2025. Merck has just unveiled a new alliance. It will pay up to $22 billion to the Japanese group Daiichi Sankyo as part of a partnership on experimental cancer treatments. While some experts estimate that the United States represents nearly half of global oncology spending (drugs and treatments), or $196 billion in 2022, Chinese spending in this area has more than doubled in five years, going from 5 to 11.8 billion dollars.