Dec 16 (Reuters). The U.S. Health regulator has added Eli Lilly and Co.’s Mounjaro onto its list drugs facing shortages. This highlights the company’s inability to meet the booming demand of the recently approved diabetes injection.
Trulicity, another treatment for diabetes in the company’s stock and its most-sold drug, was also added on Thursday to the Food and Drug Administration’s shortlist.
These additions are made after Lilly raised concerns earlier in the week about its ability to meet demand, particularly since it offers six forms of Mounjaro as well as four of Trulicity.
Anat Ashkenazi Chief Financial Officer had stated in a conference with analysts that there would be occasional delays at wholesalers, pharmacies when receiving some Mounjaro doses.
The company plans to increase its manufacturing capacity for these drugs at its North Carolina facility, and double it by 2023.
Trulicity generated $5.5 Billion in revenue through September 30, but investors and the company have placed their trust on Mounjaro for future growth.
Mounjaro received approval for diabetes treatment in May. The company expects that the drug, also known as tirzepatide (commonly called Mounjaro), will be approved for diabetes in May.
Wegovy, a rival drug for obesity, has also been plagued by supply problems, but Novo Nordisk is working to increase its manufacturing capacity. (Reporting from Bengaluru by Leroy Leo; Editing by Srirajkalluvila