As experts forecast GLP-1 medications boosting national economies, the manufacturers of these popular drugs have reported fruitful second quarters.
AstraZeneca, the maker of Byetta, Bydureon and Bydureon BCise, earned $12.9 billion in the second quarter. Compared to the same quarter in 2023, the company noted a 13% increase in total revenue. AstraZeneca attributed the results to its 18% increase in product sales, but it did not cite the three GLP-1 medications as a factor.
Eli Lilly's Mounjaro, Zepbound and Verzenio drove the drugmaker's 36% increase in revenue. Global sales of Mounjaro, a Type 2 diabetes drug, rose above $3 billion, compared to $979 million in the same period last year. Weight loss drug Zepbound saw $1.2 billion and breast cancer medication Verzenio recorded $1.3 billion in Q2 revenue. Revenue for Trulicity, a Type 2 diabetes drug, was about $1.2 billion.
Novo Nordisk manufactures multiple GLP-1s: Ozempic, Rybelsus, Saxenda, Victoza and Wegovy. The company reported 25% sales growth in the first six months of 2024, with weight loss drug Wegovy logging $21 billion in sales. Sales in obesity care rose 37%, the drugmaker said.
Teva Pharmaceuticals, which launched the first generic GLP-1 in June, said its 16% growth in revenue from generics was partly because of the Victoza generic (liraglutide). Its generics business was a leading driver for its $4.2 billion in earnings.