From CNBC:

Eli Lilly reports strong fourth-quarter financial results, citing robust sales of Zepbound, a new weight loss drug approved in November 2023. The pharmaceutical giant’s quarterly revenue hits $9.35 billion, with adjusted earnings of $2.49 per share. The company projects full-year 2024 revenue of $40.4 billion to $41.6 billion and expects adjusted earnings of $12.20 to $12.70 per share.

Sales of Mounjaro, Eli Lilly’s blockbuster diabetes treatment, surge to $2.21 billion for the fourth quarter, up from $279.2 million a year earlier, surpassing analyst expectations. Revenue also grows from the breast cancer pill Verzenio, climbing 42% to $1.15 billion, but falls short of analysts’ sales estimates. Jardiance, a diabetes tablet, reports a 30% increase in sales to $798.1 million.

In contrast, Trulicity and Humalog experience revenue declines, impacted by lower prices. Trulicity’s revenue drops 14% to $1.67 billion, and Humalog’s revenue falls 33% to $366.6 million. Last year, Eli Lilly cut insulin prices by 70%, capping monthly out-of-pocket costs at $35 for patients with private insurance.

Analysts plan to question Eli Lilly on addressing supply issues with its weight loss and diabetes drugs during the company’s earnings call. The FDA’s decision on Eli Lilly’s experimental Alzheimer’s drug, donanemab, is also expected to be a topic of discussion. The drug showed promise in early-stage Alzheimer’s patients but wasn’t mentioned in the earnings release.



Read more: Eli Lilly (LLY) earnings Q4 2023