Eli Lilly gets ready to launch five new drugs in 2023

Eli Lilly, the American pharmaceutical company (IN, USA) are gearing up for a big year ahead, with hopes to launch five new drugs and capitalise on growing obesity and Alzheimer’s disease markets. 

The company’s shares have been up this past year, by 31%, although they have predicted a lower profit margin in 2023 due to higher spending and share prices falling by 1%. 

Tirzepatide, under the brand name Mounjaro, gained approval from the US regulators in 2022 for use in treating type 2 diabetes to be administered as a once-weekly subcutaneous injection. 

Eli Lilly are anticipating costs associated with the drug’s marketing and other expenses to hit in the region of $6.9 billion to $7.1 billion, $500 million more than in 2022. 

"I think we see two of them as kind of generational opportunities, tirzepatide for obesity and donanemab, and the other three as being great opportunities in very competitive spaces," Lilly Chief Executive David Ricks stated.

The other drugs in the portfolio to be released next year are mirikizumab for inflammatory bowel disease, lebrikizumab for atopic dermatitis, and pirtobrutinib for the treatment of multiple B-cell malignancies.

Lilly is also projecting a spend of $8.2 billion to $8.4 billion on their research and development programmes. 

Refinitiv, the financial market data and infrastructure provider, is predicting that these large-scale investments will pay off, projecting revenue of between $30.3 billion and $30.8 billion in 2023 for Eli Lilly.