Eli Lilly and Co. reported strong fourth-quarter earnings, driven by the success of its diabetes and obesity medications, Mounjaro and Zepbound. While sales fell short of some analysts' expectations, the company's overall performance exceeded forecasts, with revenue surging 45% and profits reaching $4.41 billion.
Eli Lilly and Co. reported strong fourth-quarter earnings, driven by robust sales of its diabetes and obesity medications. Sales of Mounjaro , Lilly's top-selling drug, surged 60% to $3.53 billion in the final quarter of 2024, while its obesity treatment counterpart Zepbound generated $1.9 billion. Both figures fell short of Wall Street's expectations but aligned with Lilly's forecast made last month.
Revenue from the breast cancer treatment Verzenio also contributed to the strong performance, increasing 36% to $1.55 billion. Overall, Lilly's quarterly profit soared to $4.41 billion. Revenue climbed 45% to $13.53 billion, meeting expectations. On a per-share basis, adjusted earnings for the quarter totaled $5.32, surpassing the $5.01 projected by analysts.Mounjaro and Zepbound belong to a class of diabetes and obesity medications known as GLP-1 receptor agonists that have gained immense popularity worldwide due to their significant weight-loss benefits. They face competition from Novo Nordisk's Wegovy, which has also become a blockbuster treatment. For 2024, Mounjaro sales more than doubled to $11.54 billion, while Zepbound achieved sales of $4.9 billion in its first full year on the market. Analysts anticipate over $18 billion in Mounjaro sales this year and over $10 billion from Zepbound, which recently received U.S. approval for treating certain sleep apnea types.Looking ahead to 2025, Eli Lilly projects adjusted earnings to fall within a range of $22.50 to $24 per share, with revenue estimated between $58 billion and $61 billion. Eli Lilly and Co. shares rose approximately 2% Thursday morning to $857.40, while broader market indexes displayed mixed performance.
Eli Lilly Earnings Mounjaro Zepbound Diabetes Obesity GLP-1 Receptor Agonists Drug Sales Pharmaceutical Industry
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 posts mixed quarter even as demand for weight loss, diabetes drugs soarsThe results were consistent with the preliminary results Eli Lilly shared in January, which disappointed investors.
Read more »
Eli Lilly beats on earnings even as weight loss, diabetes drug sales fall shortZepbound and Mounjaro have now underperformed expectations for two straight quarters.
Read more »
Premarket Movers: Ford, Qualcomm, Honeywell, Eli Lilly and MoreCheck out the companies making headlines in premarket trading. Ford, Bristol Myers Squibb, Qualcomm, Honeywell International, Eli Lilly and more.
Read more »
Eli Lilly's Retatrutide: A Potential Game-Changer in Weight LossEli Lilly is poised to release data from a late-stage trial of retatrutide, a promising new weight loss drug, later this year. The drug works differently than existing treatments and appears to be more effective. Retatrutide mimics three hunger-regulating hormones, potentially leading to greater appetite suppression and weight loss.
Read more »
Diabetes and obesity drugs fuel Eli Lilly profit in the final quarter of 2024Eli Lilly’s profit doubled in the fourth quarter, propelled by its hot-selling diabetes and obesity treatments, and the drugmaker debuted a mostly better-than-expected 2025 forecast
Read more »
Jim Cramer's Charitable Trust Makes Three Trades: Coterra Energy, Honeywell, and Eli LillyJim Cramer's Charitable Trust announced three trades on Tuesday, selling 200 shares of Coterra Energy, 45 shares of Honeywell, and buying 10 shares of Eli Lilly. The Trust is trimming its positions in Coterra and Honeywell while increasing its stake in Eli Lilly.
Read more »