Indianapolis, Indiana – Eli Lilly, a pharmaceutical giant, is planning to utilize the momentum gained from its successful weight loss and diabetes drugs, Zepbound and Mounjaro. Outgoing CFO Anat Ashkenazi shared with CNBC the company’s ambitious goals of enhancing manufacturing capabilities, increasing patient access to treatments, and challenging prevailing misconceptions about obesity.
As Ashkenazi transitions to her new role as the chief financial officer of Alphabet, the parent company of Google, the focus remains on managing the surge in revenue and investor confidence stemming from Eli Lilly’s diabetes injection Mounjaro and the recently launched obesity drug Zepbound. Having been with the company for almost two decades, Ashkenazi’s leadership has been instrumental in navigating the success of these groundbreaking medications.
The demand for weight loss and diabetes treatments has propelled Eli Lilly to new heights over the past year. Both Eli Lilly and its competitor, Novo Nordisk, have faced challenges in meeting the unprecedented demand for their respective treatments, leading to nationwide shortages. These treatments, known as GLP-1 agonists, mimic hormones in the gut to regulate appetite and blood sugar, with the market projected to reach $100 billion by the end of the decade.
To address the supply shortage issues, Eli Lilly has made significant investments to scale up manufacturing, with multiple new sites under construction or expanding in the United States and Europe. Despite the progress made, Ashkenazi acknowledged that meeting the current level of demand may be a challenge in the coming years.
In addition to ramping up manufacturing, Eli Lilly is also working to overcome barriers related to limited insurance coverage for weight loss drugs in the U.S. While some commercial insurers have improved coverage for Zepbound, there is still work to be done to ensure access for all patients.
Furthermore, Eli Lilly is conducting studies on tirzepatide, the active ingredient in Zepbound and Mounjaro, to explore its potential in treating various health conditions beyond obesity and diabetes. The company is also advocating for a shift in perception regarding obesity, emphasizing that it should be viewed as a chronic disease rather than a lifestyle choice.
Overall, Eli Lilly’s ongoing efforts reflect a commitment to innovation, patient care, and addressing critical healthcare challenges in the realm of weight loss and diabetes treatments.