Eli Lilly's Q2 2024 Earnings Report

👉 Business Highlights:

➡️ Revenue increased 36%, driven by Mounjaro, Zepbound, and Verzenio.

➡️ Excluding the Baqsimi rights sale, revenue increased 46%.

➡️ Non-incretin revenue rose 17% worldwide and 25% in the U.S.

➡️ Raised full-year revenue guidance by $3 billion.

➡️ Received approval for Kisunla in the U.S. for Alzheimer's disease.

➡️ Acquired Morphic Holding, Inc. to expand the immunology pipeline.

➡️ $5.3 billion investment in new Indiana site for API production.

➡️ U.S. FDA approval of Kisunla™ for Alzheimer's treatment.

➡️ Approval of Jaypirca® in Japan for mantle cell lymphoma.

👉 Business Segments:

➡️ Mounjaro: $3.09B, strong demand and higher prices.

➡️ Trulicity: $1.25B, impacted by competitive dynamics.

➡️ Verzenio: $1.33B, driven by increased demand.

➡️ Zepbound: $1.24B, launched in the U.S. in November 2023.

➡️ Jardiance: $769.6M, driven by increased demand.

➡️ Taltz: $824.7M, increased demand and channel dynamics.

➡️ Humalog: $631.6M, higher realized prices and demand.

👉 CEO Statement:

"Mounjaro, Zepbound and Verzenio led our strong financial performance in the second quarter as we advanced our manufacturing expansion agenda, and it is equally exciting to see the growth around the world of our medicines for cancer, neurological disorders and autoimmune diseases," said David A. Ricks, Lilly's chair and CEO. "We also recently received approval of Kisunla to help people with Alzheimer's disease, a moment that was decades in the making. Lilly's performance and progress in Alzheimer's, metabolic disorders and many other serious diseases highlight the tenacity, focus and capability of our scientists, clinicians, engineers, customer teams and collaborators."