Eli Lilly Profits Surge on Diabetes and Obesity Drug Sales, Exceeding Expectations
Eli Lilly's financial performance has soared in the fourth quarter, driven by the remarkable success of its diabetes and obesity treatments. The drugmaker's revenue witnessed a substantial 45% increase to a whopping $13.53 billion. Similarly impressive, its quarterly profit doubled to an impressive $4.41 billion.
Mounjaro and Zepbound Drive Growth
Mounjaro, Lilly's leading diabetes medication, experienced a remarkable 60% sales surge to $3.53 billion in the final quarter of 2024. Its obesity counterpart, Zepbound, also contributed significantly, generating $1.9 billion in revenue.
Verzenio Boosts Performance
Sales of the breast cancer treatment Verzenio surged by 36% to $1.55 billion, further bolstering Lilly's overall financial performance.
Earnings and Expectations
Lilly's adjusted earnings per share for the quarter reached $5.32, surpassing Wall Street's estimate of $5.01. The company's strong 2024 performance included over $11.54 billion in Mounjaro sales and $4.9 billion in Zepbound sales.
Looking ahead to 2025, Lilly anticipates adjusted earnings within the range of $22.50 to $24, while revenue is projected to fall between $58 billion and $61 billion. Analysts estimate earnings of $22.77 per share on $58.8 billion in revenue.
Despite the positive outlook, Eli Lilly's shares experienced a slight 1% decline to $831.64 in premarket trading on Thursday. However, the stock has already climbed 9% year-to-date.