Eli Lilly and Company announced that it expects 2024 full-year worldwide revenue to be approximately $45.0 billion, which represents growth of 32% compared to the previous year. The company also shared 2025 revenue guidance, anticipating sales will be between $58.0 billion and $61.0 billion.
For Q4 2024, Lilly now expects worldwide revenue to be approximately $13.5 billion, representing growth of 45% compared to Q4 2023. This includes approximately $3.5 billion for Mounjaro® and $1.9 billion for Zepbound®. In addition to the uptake of Mounjaro and Zepbound, Lilly saw strong performance from its oncology, immunology and neuroscience medicines in Q4 of 2024. In total, non-incretin revenue grew by 20% compared to Q4 2023. However, the company's expected 2024 revenue is $400 million, or about 3%, below the guidance range issued on October 30, 2024, as part of the Q3 2024 earnings call.
"While the U.S. incretin market grew 45% compared to the same quarter last year, our previous guidance had anticipated even faster acceleration of growth for the quarter. That, in addition to lower-than-expected channel inventory at year-end, contributed to our Q4 results. We continued to make progress on our manufacturing build-out, and U.S. supply across all doses of tirzepatide was available throughout Q4," said David A. Ricks, Lilly chair and CEO. "The rest of our medicines performed within our expectations."
Lilly anticipates revenue growth contributions in 2025 from new Lilly medicines such as Jaypirca®, Ebglyss™, Omvoh® and Kisunla™; approvals of new indications for existing Lilly medicines; launches of Mounjaro in additional worldwide markets, as well as potential launches of new medicines such as imlunestrant for metastatic breast cancer. Incretin market and channel dynamics have been factored into the 2025 revenue guidance range.
"2024 was a pivotal and highly successful year for Lilly, and we expect to continue our momentum in 2025 with strong financial and operational performance," continued Ricks. "Sales of Mounjaro and Zepbound posted robust sales growth in Q4, and we expect a continuation of that trend into 2025. We'll also bring additional manufacturing capacity online and expect to produce at least 60% more salable doses of incretins in the first half of the year compared to the first half of 2024."
The company currently plans to share its full Q4 2024 financial results, including with respect to other metrics included in its financial guidance, and 2025 financial guidance on February 6, 2025.
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