Eli Lilly reported mixed fourth-quarter results on Thursday (Friday AEDT), surpassing earnings expectations while revenue slipped as diabetes drug Mounjaro faced lower realised prices.
The company posted adjusted earnings of $5.32 per share versus $5.01 expected, while revenue reached US$13.53 billion, matching market estimates.
Eli Lilly shares climbed 3.4% Thursday, rebounding from a 6.6% drop in January when the company pre-announced its earnings. The stock had tumbled to $744.91 in its worst trading day since 2021 but has since recovered.
Demand for weight-loss drug Zepbound and Mounjaro remained strong, with the latter generating $3.53 billion in Q4 sales, a 60% increase year-over-year.
Zepbound posted $1.91 billion in U.S. revenue for Q4 2024, a significant rise from $175.8 million a year earlier, following its November 2023 launch.
Eli Lilly reaffirmed its 2025 guidance, projecting earnings per share between $22.05 and $23.55 and sales of $58 billion to $61 billion.
David A. Ricks, Lilly's chair and CEO noted, “We had major data readouts for tirzepatide in treating chronic disease associated with obesity, invested billions more in expanding our manufacturing capacity and launched Kisunla and Ebglyss - important drivers of our long-term balanced growth outlook.”
The company also plans to expand Mounjaro into new international markets and expects to ramp up production of incretin drugs to meet demand.
At the time of writing, Eli Lilly (NYSE: LLY) stock was trading at US$870.37, gaining 3.4% from Wednesday's close of $842.18. The stock reached a day low of $835.61 and a day high of $887.74. Eli Lilly's market cap stands at $826.26 billion.
