Eli Lilly Reports Strong Q2 2024 Results, Raises Full-Year Revenue Guidance by $3 Billion
Eli Lilly
Global Pharmaceutical R&D and Production Company
Recently, Eli Lilly and Company released its financial results for the second quarter of 2024.
Key Points of Q2 2024 Earnings Report
➤ Eli Lilly's Revenue Grows 36% in Q2 2024, Driven by Mounjaro (Type 2 Diabetes Indication), Zepbound (Long-Term Weight Management Indication), and Verzenio
➤ According to the Q2 financial report, core earnings per share (EPS) increased by 68% to $3.28; on a non-GAAP basis, core earnings per share grew by 86% to $3.92. Both figures include a loss of $0.14 per share due to the acquisition of IPR&D expenses.
➤ The company raised its full-year 2024 revenue guidance by $3 billion; increased core earnings per share guidance by $2.05 to $15.10-$15.60; and under non-GAAP standards, raised core earnings per share guidance by $2.60 to $16.10-$16.60.
➤ Pipeline Progress Includes: Kisunla* Approved in the U.S. for the Treatment of Alzheimer’s Disease, Jaypirca* Approved in Japan for the Treatment of Relapsed or Refractory Mantle Cell Lymphoma. Eli Lilly and Company has submitted applications in the U.S. and EU for tirzepatide to treat moderate to severe obstructive sleep apnea (OSA) in patients with obesity. Recently, a Phase 3 study of tirzepatide for the treatment of heart failure with preserved ejection fraction in patients with obesity reported positive results.
/ Mr. David A. Ricks/
Chairman and Chief Executive Officer of Eli Lilly and Company
“
As our production expansion plan progresses, Mounjaro (Mounjaro, Zepbound) and Verzenio drove strong financial performance in the second quarter. Equally exciting is the growth achieved globally by our oncology, neuroscience, and immunology drugs. Recently, Kisunla, used to help patients with Alzheimer's disease, was approved in the United States—a significant milestone after decades of effort. The achievements and progress of Eli Lilly and Company in Alzheimer’s disease, metabolic diseases, and many other serious conditions fully demonstrate the unwavering determination, focus, and expertise of our scientists, clinicians, engineers, business teams, and partners.
Regulatory Approvals, Clinical, Business Development, and Other Events
➤The U.S. Food and Drug Administration (FDA) approved Kisunla™ (donanemab-azbt)* for the treatment of Alzheimer's disease;
➤ Jaypirca®* Approved in Japan for relapsed or refractory mantle cell lymphoma patients who are resistant or intolerant to other BTK inhibitors;
➤ Applications for tirzepatide to treat moderate to severe obstructive sleep apnea (OSA) in obese adult patients have been submitted in the United States and the European Union.
➤ An application for mirikizumab* for the treatment of moderate to severe active Crohn's disease has been submitted in Japan;
➤ Tirzepatide Shows Positive Results in Phase 3 Study for Treating Heart Failure with Preserved Ejection Fraction in Adults with Obesity;
➤ Positive results from the QWINT-2 and QWINT-4 Phase 3 clinical trials demonstrated that once-weekly efsitora alfa insulin* is non-inferior to once-daily basal insulin in lowering A1C levels and safety in adult patients with type 2 diabetes.
➤ Eli Lilly Announces Acquisition of Morphic to Expand Its Immunology Pipeline, Offering Oral Integrin Therapies for Severe Chronic Diseases;
➤ Eli Lilly plans to invest an additional $5.3 billion in its newly established production base in Indiana to enhance its capacity for producing the active pharmaceutical ingredient (API) and pipeline for tirzepatide.
➤Eli Lilly Releases Public Statement to Inform the Public About the Potential Serious Risks of Counterfeit, Fake, Compounded, and Other Unsafe or Unapproved Versions of Tirzepatide, and How to Properly Use FDA-Approved Tirzepatide
➤ Eli Lilly and Company Announces Leadership Transition
*Statement:
1. The relevant indications for the drugs described in this article have not been approved in mainland China.
2. Eli Lilly does not recommend the use of any unapproved drugs/indications.
For important announcements, please visit the official website of Eli Lilly and Company.
www.lilly.com/news
Lilly
About Eli Lilly and Company
Eli Lilly and Company is a pharmaceutical company dedicated to improving human health through scientific innovation and benefiting patients worldwide. As a leader in the healthcare industry, Eli Lilly and Company has nearly 150 years of history. Today, our medicines have helped more than 51 million people globally. Harnessing the power of biotechnology, chemistry, and genetic medicine, our scientists are actively advancing new medical breakthroughs to address serious global health challenges. We are redefining therapies for diabetes and obesity, reducing the long-term impact of obesity on the body; supporting prevention and treatment efforts for Alzheimer's disease; providing solutions for a range of immune-mediated diseases that threaten human health; and transforming difficult-to-treat cancers into manageable conditions. Every step Eli Lilly and Company takes toward a healthier world stems from our belief in "making life better for millions of patients." This includes innovative clinical trials aimed at addressing multiple global challenges while ensuring the accessibility and affordability of medicines. For more information about Eli Lilly and Company, please visit: www.lilly.com.
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