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

INDIANAPOLIS (AP) — 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 17% to an all-time-high 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.

Analysts expected the drug to bring in about…