Subscriber Benefit
As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe Now
Indianapolis-based Eli Lilly and Co. reported fourth-quarter earnings early Thursday morning that topped Wall Street expectations, largely driven by sales of blockbuster medications including weight-loss drug Mounjaro.
For the fourth quarter, Lilly said it earned $4.41 billion, with an adjusted $5.32 per share. The company reported revenue of $13.53 billion, a sales increase of 45% over the same period a year before. Those results beat analyst expectations by 24 cents a share and $100 million in revenue, according to Seeking Alpha.
For the full year, Lilly reported net income of $10.6 billion, up 102% from 2023, and revenue of $45.04 billion, up 32%.
“2024 was a highly successful year for Lilly,” Lilly CEO David Ricks said in a written statement. “We had major data readouts for tirzepatide in treating chronic disease associated with obesity, invested billions more in expanding our manufacturing capacity and launched Kisunla and Ebglyss — important drivers of our long-term balanced growth outlook.”
He added, “We enter 2025 with tremendous momentum and look forward to strong financial performance and several important Phase 3 readouts which, if positive, will further accelerate our long-term growth.”
The company noted key milestones including U.S. Food and Drug Administration, or FDA, approval of Zepbound for moderate-to-severe obstructive sleep apnea (OSA) in adults with obesity and FDA approval for Omvoh for the treatment of moderately to severely active Crohn’s disease in adults.
The company also noted its pending $2.5 billion acquisition of Boston-based Scorpion Therapeutics and its targeted breast cancer treatment program.
In the fourth quarter, Lilly saw revenue for Mounjaro increase by 60%, to $3.53 billion. Revenue for breast cancer drug Verzenio revenue increased by 36%, to $1.56 billion.
Fourth-quarter U.S. revenue for Zepbound was $1.91 billion, compared to $175.8 million in Q4 2023. The medication was launched in the United States in November 2023 for the treatment of adult patients with obesity or overweight with weight-related comorbidities.
For the full year 2025, Lilly said it expected revenue of $58 billion to $61 billion and earnings per share of $22.05 to $23.55.
Lilly officials are expected to detail the year’s earnings in a 10 a.m. call Thursday.
Please enable JavaScript to view this content.