Summary
Eli Lilly and Company (LLY) reported a substantial increase in revenue for the fiscal year ending December 31, 2024, with total revenue reaching $45.04 billion, a 32% increase over the prior year. This growth was primarily driven by strong performance in key products like Mounjaro and Zepbound, which saw significant revenue gains, along with continued growth from Verzenio and Taltz. The company also experienced substantial net income growth of 102%, reaching $10.59 billion, with diluted earnings per share rising to $11.71. This financial performance reflects increased volume and higher realized prices across its portfolio, particularly in the U.S. market. Lilly continues to aggressively invest in its research and development pipeline, with approximately 55 new medicine candidates in clinical development or under regulatory review. Significant progress has been made in areas such as obesity and Alzheimer's disease, with Mounjaro/Zepbound and Donanemab (Kisunla) showing promising results and regulatory approvals. The company also announced a new $15 billion share repurchase program, demonstrating confidence in its future prospects and commitment to returning capital to shareholders. However, investors should note ongoing risks related to pricing pressures, regulatory changes (such as the Inflation Reduction Act), intellectual property challenges, and potential supply chain disruptions.
Financial Highlights
50 data points| Revenue | $45.04B |
| Cost of Revenue | $8.42B |
| Gross Profit | $36.63B |
| SG&A Expenses | $8.59B |
| Net Income | $10.59B |
| EPS (Basic) | $11.76 |
| EPS (Diluted) | $11.71 |
| Shares Outstanding (Basic) | 900.60M |
| Shares Outstanding (Diluted) | 904.10M |
Key Highlights
- 1Revenue surged by 32% to $45.04 billion in 2024, driven by strong performance of Mounjaro, Zepbound, Verzenio, and Taltz.
- 2Net income more than doubled, increasing by 102% to $10.59 billion, with diluted EPS reaching $11.71.
- 3The company's research and development pipeline remains robust with approximately 55 new medicine candidates in clinical development or under regulatory review, particularly in obesity and neuroscience.
- 4Mounjaro and Zepbound were significant revenue drivers, with Mounjaro revenue increasing by 124% and Zepbound generating $4.93 billion in its first full year of sales in the U.S.
- 5Trulicity revenue declined by 32% in the U.S. due to competitive dynamics and supply constraints.
- 6The company expanded its manufacturing capacity with significant capital expenditures and announced a new $15 billion share repurchase program in December 2024.
- 7The Inflation Reduction Act continues to be a key regulatory factor, with Jardiance selected for government-set pricing in Medicare starting in 2026, impacting pricing strategies.