Street View: Lilly set for 'unprecedented growth' with manufacturing scale-up
** Eli Lilly LLY.N raised annual sales forecast driven by increased manufacturing capacity for its highly popular weight-loss drug Zepbound
** Shares rise 1.2% to $855.50 in premarket trading
** At least 3 brokerages raised PT on co
UNPRECEDENTED GROWTH
** J.P.Morgan ("overweight," PT: $1,050) says LLY is in a stronger position to meet demand globally with increased manufacturing capacity
** "We see unprecedented growth for LLY over the next decade led by the company's incretin franchise," says brokerage
** Lilly said on Thursday that outside of U.S., Zepbound had achieved a leading share in UAE and Saudi Arabia
** BMO Capital ("outperform," PT: $1,101) says LLY's "high-quality" forecast raise is driven by "exceptional execution on the largest BioPharma manufacturing expansion since the pandemic"
** Truist Securities ("buy," PT: $1,000) says it believes the recent lift of tirzepatide (Zepbound/Mounjaro) from the FDA shortage list could support a leadership position in obesity/diabetes management
** Jefferies ("buy," PT: $1,050) says LLY might not breakout as strongly in H2 2024 due to competitor data for obesity treatments expected in H2
Reporting by Mariam Sunny in Bengaluru
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