Summary by Moomoo AI
Eli Lilly and Co (LLY.US), a global pharmaceutical company, reported a 20% increase in revenue to $34.1 billion for the year ended December 31, 2023, compared to $28.5 billion in 2022. However, net income decreased by 16% to $5.2 billion, and diluted earnings per share also fell by 16% to $5.80. The revenue growth was attributed to higher sales volumes and prices, particularly for products like Mounjaro, Verzenio, and Jardiance, as well as income from the sale of rights for the olanzapine portfolio. The decline in net income and earnings per share was primarily due to higher research and development expenses and increased marketing, selling, and administrative expenses. Eli Lilly's late-stage pipeline includes approximately 50 new medicine candidates, with several in Phase II or III clinical trials or...Show More
