Despite exceeding Wall Street expectations in its first quarter, Eli Lilly’s (NYSE: LLY) stock experienced a significant decline after the company announced a reduced profit forecast. The pharmaceutical giant reported adjusted EPS of $3.34 on revenues of $12.73 billion, surpassing the anticipated figures. Strong sales of weight-loss medications Mounjaro and Zepbound played a key role in this robust performance, with Mounjaro exceeding projections. However, factors such as significant net losses from investments and charges related to acquired R&D initiatives impacted the full-year EPS forecast, leading to an adjusted projection of $20.78 to $22.28, down from earlier estimates. Following the announcement, Eli Lilly’s shares, which had seen a surge of over 16% this year, dropped by more than 7%.