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What happened? Eli Lilly and Co's Q1 revenue surged by 45%, but the stock price plummeted more than 10% during trading.
In the first quarter, Eli Lilly and Co's weight loss drug Zepbound saw sales increase more than threefold, while the annual EPS guidance was lowered by over 7% due to acquisition-related expenses, with the annual revenue guidance remaining unchanged, but only reflecting the impact of Trump tariffs as of early May. The chain pharmacy giant CVX has decided to include Novo-Nordisk A/S's Wegovy as the preferred option in its main prescription drug catalog starting in July, while Zepbound was not included, with the CEO of Eli Lilly and Co calling it "a step backward."
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