Soaring sales of diabetes drug Mounjaro, often used for weight loss, sends Eli Lilly to new heights

Eli Lilly’s diabetes treatment Mounjaro, which is widely used for weight loss, raked in nearly $1 billion in second-quarter sales, or more than $200 million above what Wall Street had expected. Shares of the drugmaker soared to a new all-time-high price early Tuesday after Lilly said Mounjaro sales swelled more than 70% since the first quarter to $980 million. Almost all of that came from the U.S., and the company said significant demand was leading to delays in filling orders for some doses. FactSet says analysts expected the drug to bring in about $740 million during the quarter.