Lilly hosted its Q3 ’24 earnings call (press release; slides) and provided updates across its CVRM portfolio. Of note, Lilly decreased its FY2024 revenue guidance by $600M to $45.4B- $46B, primarily due to the acquired IPR&D charges incurred in Q3 as well as investments in increasing the supply of tirzepatide. Following the updated guidance, Lilly’s stock price decreased by ~8%.