Eli Lilly (LLY) shares traded down more than 6% Tuesday after the company reported revenue guidance for the fourth quarter of 2024 that missed Wall Street expectations. Lilly revised its revenue guidance down 5%,

Key Takeaways Eli Lilly shares tumbled Tuesday after the drugmaker lowered its revenue forecast for the 2024 fiscal year.The maker of weight-loss drugs Mounjaro and Zepbound said sales grew slower than expected in the fourth quarter.

Eli Lilly (LLY) reduced its fourth-quarter sales guidance by 5%, lowering expectations to $13.5 billion. This figure is $400 million below the low end of the company’s prior guidance and includes $3.5 billion from its type 2 diabetes drug Mounjaro and $1.