Eli Lilly's weight loss and diabetes treatments saw weaker-than-expected Q3 sales due to wholesaler inventory reductions and competition.

Eli Lilly reported weaker-than-expected sales for its weight loss drug Zepbound and diabetes treatment Mounjaro in the third quarter, despite recovering from shortages. The company attributed this to wholesalers reducing inventory, though analysts suggest competition from compounded versions may also be a factor. Eli Lilly maintains strong underlying demand and has invested $10-$15 billion to enhance manufacturing capacity.