The results were consistent with the preliminary results Eli Lilly shared in January, which disappointed investors.
Eli Lilly reported mixed results for the fourth quarter as sales of its blockbuster weight loss and diabetes drugs soared but saw lower realized prices.
The pharmaceutical giant also issued fiscal 2025 profit guidance of $22.05 to $23.55 per share, which is in line with what analysts were expecting. Eli Lilly reiterated its fiscal 2025 sales guidance of $58 billion to $61 billion. Here's what Eli Lilly reported for the fourth quarter compared with what Wall Street was expecting, based on a survey of analysts by LSEG:The pharmaceutical giant booked net income of $4.41 billion, or $4.88 per share, for the fourth quarter. That compares with a profit of $2.19 billion, or $2.42 a share, a year earlier.
Eli Lilly said the increase reflects strong demand and increased supply of Mounjaro, but was partially offset by lower realized prices due to"favorable changes" in the fourth quarter of 2023 to estimates for rebates and discounts.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Eli Lilly Stock Underperforms Despite Obesity Drug WinsEli Lilly's stock price has declined despite positive news about its obesity drug, Zepbound, which outperformed Wegovy in a head-to-head study. Analysts attribute the stock's underperformance to concerns about upcoming fourth-quarter earnings.
Read more »
Medicare to Cover Eli Lilly's Obesity Drug Zepbound for Sleep ApneaMedicare Part D plans can now cover Eli Lilly's obesity drug Zepbound for patients with obstructive sleep apnea (OSA), expanding access to the medication. This coverage decision follows the FDA's recent approval of Zepbound for treating both obesity and moderate-to-severe OSA.
Read more »
Medicare Now Covers Eli Lilly's Obesity Drug for Sleep ApneaA new FDA-approved use for Zepbound opens access for Medicare patients.
Read more »
Medicare Now Covers Eli Lilly's Obesity Drug Zepbound for Sleep ApneaMedicare Part D plans can now cover Eli Lilly's obesity drug Zepbound for patients with obstructive sleep apnea, expanding its accessibility.
Read more »
Eli Lilly's obesity drug gets Medicare coverage for sleep apneaEli Lilly's obesity drug Zepbound can now be covered by government-backed Medicare insurance plans for use in sleep apnea, broadening access to the blockbuster weight-loss treatment.
Read more »
Eli Lilly Cuts 2024 Revenue Forecast Amid Softer Demand for Weight Loss and Diabetes DrugsEli Lilly, a leading pharmaceutical company, reduced its 2024 revenue outlook due to lower-than-expected sales for its weight loss and diabetes medications. The company now predicts annual revenue of around $45 billion, down from its previous estimate. This downgrade reflects the slower-than-anticipated growth of incretin drugs, a class that includes Mounjaro and Zepbound, which are key products for Eli Lilly.
Read more »