CNBC May 7, 2024
Good afternoon! A highly popular group of weight loss and diabetes drugs is still hard to find in the U.S. The dominant manufacturers of those treatments, Eli Lilly and Novo Nordisk, are making progress toward changing that.
But Wall Street appears to be more encouraged by one than the other.
The drugmakers shared supply updates when they reported their financial results for the first quarter. Demand for their weight loss and diabetes medications has far outpaced supply over the last year, forcing the pair to invest heavily to scale up their manufacturing.
Investors cheered Eli Lilly after the company hiked its full-year revenue outlook by $2 billion, in part due to confidence about increased production of its weight...
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