Pharmaceutical company Eli Lilly has surpassed expectations and raised 2025 guidance in its latest earnings release.
The company’s revenue rose by 54% to US$17.60 and was greatly driven by volume growth from its weight-loss drug Zepbound and diabetes treatment Mounjaro.
Zepbound entered the market two years ago and reached US$3.59 billion for the third quarter, which is 184% higher than Q3 last year and slightly ahead of the US$3.5 billion Wall Street estimate.
Mounjaro revenue soared by 109% from the same time last year to US$6.52 billion and blew past the US$5.51 billion analysts were expecting.
Eli Lilly CEO, Dave Ricks, told CNBC’s Squawk on the Street the quarterly beat was driven by “really strong international performance”, pointing to Mounjaro’s launch in China, Brazil and India earlier this year.
Earnings per share also surpassed expectations, coming in at US$7.02 per share compared to analyst forecasts of US$5.69.
The company also reported net income of US$5.58 billion.
Due to the positive results, the company has raised revenue guidance to the range of US$63 billion to US$63.5 billion from the range of US$60 billion to US$62 billion.
It also raised earnings per share guidance from the range of US$21.80 to US$22.50 to the range of US$23 to US$23.70.
These estimates take into account President Donald Trump’s current tariffs but do not include his threatened levies on pharmaceuticals imported to the U.S..
