Eli Lilly reported a 38% year-over-year revenue increase to $15.56B, propelled primarily by soaring sales of its blockbuster diabetes and obesity treatments, Mounjaro and Zepbound. U.S. sales rose 38% to $10.81billion, while international revenue jumped 37% to $4.74billion. The higher volumes were tempered by lower prices, yet EPS rose sharply to $6.29 per share (up 92%) on a reported basis and $6.31 (up 61%) on a non-GAAP basis. Net income for the quarter surged to $5.66billion, nearly doubling year-ago levels.
Despite the strong financial performance and raised full-year guidance—including revenue now expected between $60billion and $62billion, and non-GAAP EPS between $21.75 and $23.00—shares slipped double digits in pre-market trading, due to investor concerns over future growth and competition. Lilly’s results highlight its ongoing leadership in the incretin drug market; Mounjaro saw 68% revenue growth and Zepbound’s U.S. revenue leaped 172% year-over-year. The company also reported R&D progress, especially in cardiovascular and obesity drugs, and completed strategic acquisitions to bolster its pipeline for future growth.
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