Eli Lilly reported robust Q2 2024 financial results, with revenue surging 36% to $11.3 billion and net income climbing 68% to $3.0 billion. Earnings per share rose 68% to $3.28, driven by strong performance of key products. Mounjaro sales reached $3.1 billion, while newly launched obesity drug Zepbound contributed $1.2 billion in revenue. U.S. sales grew 42% to $7.8 billion, benefiting from higher realized prices and improved channel dynamics.The company's gross margin expanded to 80.8%, up 2.5 percentage points year-over-year, reflecting favorable product mix and pricing. Research and development expenses increased 15% to $2.7 billion as Lilly continued investing in its pipeline, while marketing and administrative costs rose 10% to $2.1 billion to support new product launches. The effective tax rate remained stable at 15.6%.Looking ahead, Lilly expects continued growth driven by its incretin portfolio, though supply constraints may impact certain presentations and dose levels. The company is expanding manufacturing capacity and advancing efforts to bring tirzepatide to patients via different delivery presentations. Production increases will continue through 2024, with additional capacity expected to become operational over the next several years.

Eli Lilly reported robust Q2 2024 financial results, with revenue surging 36% to $11.3 billion and net income climbing 68% to $3.0 billion. Earnings per share rose 68% to $3.28, driven by strong performance of key products. Mounjaro sales reached $3.1 billion, while newly launched obesity drug Zepbound contributed $1.2 billion in revenue. U.S. sales grew 42% to $7.8 billion, benefiting from higher realized prices and improved channel dynamics.The company's gross margin expanded to 80.8%, up 2.5 percentage points year-over-year, reflecting favorable product mix and pricing. Research and development expenses increased 15% to $2.7 billion as Lilly continued investing in its pipeline, while marketing and administrative costs rose 10% to $2.1 billion to support new product launches. The effective tax rate remained stable at 15.6%.Looking ahead, Lilly expects continued growth driven by its incretin portfolio, though supply constraints may impact certain presentations and dose levels. The company is expanding manufacturing capacity and advancing efforts to bring tirzepatide to patients via different delivery presentations. Production increases will continue through 2024, with additional capacity expected to become operational over the next several years.