Lilly's New Money Man: Inside Scoop on Lucas Montarce's Promotion

Eli Lilly, the pharmaceutical giant known for its diabetes and weight-loss drugs, has made a bold move by appointing insider Lucas Montarce as their new chief financial officer. This comes months after former CFO Anat Ashkenazi left to join Google parent Alphabet. Montarce brings over two decades of experience from various finance leadership roles at Lilly, including head of finance for Lilly Research Laboratories and Lilly International. His most recent stint was leading the company's hub in Spain, Portugal, and Greece. But is Montarce ready for the big leagues? With billions being poured into expanding manufacturing capacity to meet skyrocketing demand for Mounjaro and Zepbound, Lilly needs a sharp CFO at the helm. After all, these drugs are projected to be worth over $150 billion by 2030. The competition is fierce too, with rival Novo Nordisk also making waves in the weight-loss space. Both companies have struggled to keep up with demand, but Lilly recently upped their sales forecast by a whopping $3 billion. So what does this all mean? Lilly's stock is already trading at record highs of over $900 per share. Montarce will need to prove he can deliver the goods and keep investors happy. With a base salary of $1 million and a potential annual bonus of another $1 million, there's no room for error. But wait, there's more! Despite Lilly's drugs being officially available according to the FDA, they've been on the agency's shortage list for most of 2023. It seems supply struggles are still an issue, even with expanded manufacturing capabilities. As Montarce takes the reins at Lilly, he'll need to navigate a complex landscape of high expectations, fierce competition, and lingering supply chain challenges.