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Zepbound Sales to Eli Lilly, Pfizer Wants to Get Involved in Weight-Loss Drugs, AbbVie’s Big Deal: Pharmaceutical News Roundup

Posted on by L. Dreeye
Zepbound Sales to Eli Lilly, Pfizer Wants to Get Involved in Weight-Loss Drugs, AbbVie’s Big Deal: Pharmaceutical News Roundup

Eli Lilly CEO David Ricks told investors this week that selling cheaper knockoffs of Zepbound, the company’s blockbuster weight-loss drug, isn’t driving down sales. Pfizer’s sales rose 31% to $17.7 billion in the third quarter of 2024, driven by rising demand for the pharmaceutical giant’s COVID-19 drugs. AbbVie announced Monday that it is buying Aliada Therapeutics along with its lead drug candidate ALIA-1758, an experimental antibody being tested to treat Alzheimer’s disease, for $1.4 billion.

Check out these stories and other important pharmaceutical industry news this week.

Counterfeit weight loss drugs are having a moment. Eli Lilly doesn’t care

Eli Lilly and Company CEO David Ricks speaks at the Economic Club of New York on March 12, 2024 in New York City. - Image: Spencer Platt/Staff (Getty Images)Eli Lilly and Company CEO David Ricks speaks at the Economic Club of New York on March 12, 2024 in New York City. - Image: Spencer Platt/Staff (Getty Images)

Eli Lilly and Company CEO David Ricks speaks at the Economic Club of New York on March 12, 2024 in New York City. – Image: Spencer Platt/Staff (Getty Images)

Eli Lilly (LLY) CEO David Ricks said selling cheaper, off-brand versions of the company’s popular weight-loss drug does not have a “financial impact” on the pharmaceutical giant.

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Eli Lilly isn’t selling as much Zepbound as expected, and shares are falling

A sign displaying the company logo is displayed at the Eli Lilly and Company headquarters on March 17, 2024 in Indianapolis, Indiana. - Image: Scott Olson/Staff (Getty Images)A sign displaying the company's logo is displayed at the Eli Lilly and Company headquarters on March 17, 2024 in Indianapolis, Indiana. - Image: Scott Olson/Staff (Getty Images)

A sign displaying the company logo is displayed at the Eli Lilly and Company headquarters on March 17, 2024 in Indianapolis, Indiana. – Image: Scott Olson/Staff (Getty Images)

Sales of Eli Lilly’s (LLY) popular weight-loss drug Zepbound are still rising, but not at the level Wall Street expected.

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Pfizer aims to get in on weight-loss drug boom

In this photo illustration, a stack of pills is displayed on a screen with the Pfizer logo in the background. - Image: SOPA Images / Author (Getty Images)In this photo illustration, a stack of pills is displayed on a screen with the Pfizer logo in the background. - Image: SOPA Images / Author (Getty Images)

In this photo illustration, a stack of pills is displayed on a screen with the Pfizer logo in the background. – Image: SOPA Images / Author (Getty Images)

Pfizer (PFE) revealed some details about its weight-loss portfolio on Tuesday during a call with investors following its third-quarter earnings report. It joins several other pharmaceutical companies working to introduce their own incretin weight-loss drugs first popularized by Ozempic, in an attempt to break the weight-loss duopoly currently held by Novo Nordisk (NVO) and Eli Lilly.

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Pfizer achieves another sales increase due to COVID-19

Dr. Albert Bourla, Chairman and CEO of Pfizer, speaks on stage during The Wall Street Journal's The Future Of Everything 2024 festival at Spring Studios on May 22, 2024 in New York City. - Image: Dia Dipasupil/Staff (Getty Images)Dr. Albert Bourla, Chairman and CEO of Pfizer, speaks on stage during The Wall Street Journal's The Future Of Everything 2024 festival at Spring Studios on May 22, 2024 in New York City. - Image: Dia Dipasupil/Staff (Getty Images)

Dr. Albert Bourla, Chairman and CEO of Pfizer, speaks on stage during The Wall Street Journal’s The Future Of Everything 2024 festival at Spring Studios on May 22, 2024 in New York City. – Image: Dia Dipasupil/Staff (Getty Images)

Pfizer (PFE) reported third-quarter earnings on Tuesday, beating Wall Street expectations and raising its full-year guidance as demand for the pharmaceutical giant’s COVID-19 drugs soared.

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AbbVie buys Alzheimer’s drug for more than $1 billion

Close-up of the Abbvie pharmaceutical logo, April 13, 2019 – Image: Smith Collection/Gado/Contributor (Getty Images)Close-up of the Abbvie pharmaceutical logo, April 13, 2019 – Image: Smith Collection/Gado/Contributor (Getty Images)

Close-up of the Abbvie pharmaceutical logo, April 13, 2019 – Image: Smith Collection/Gado/Contributor (Getty Images)

AbbVie (ABBV) announced Monday it will buy Aliada Therapeutics for $1.4 billion. The deal includes Aliada’s lead drug candidate ALIA-1758, an experimental antibody being tested to treat Alzheimer’s disease.

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