Lilly Reports Strong Q1 2024 Results with 26% Revenue Growth Driven by Mounjaro and Zepbound
Eli Lilly
Global Pharmaceutical R&D and Production Company
Recently, Eli Lilly and Company released its financial results for the first quarter of 2024, which reflected strong growth, driven by robust sales of Mounjaro and Zepbound.
Key Points of Q1 2024 Earnings Report
Driven by Mounjaro, Zepbound, Verquvo®, and Jardiance®, revenue increased by 26% in the first quarter of 2024.
Product pipeline progress includes: Two Phase 3 trials of tirzepatide for obstructive sleep apnea achieved positive results; mirikizumab has been submitted in the U.S. and EU for the treatment of moderate to severe Crohn's disease in adults; lebrikizumab has been resubmitted in the U.S. for the treatment of moderate to severe atopic dermatitis; lepodisiran has initiated a Phase 3 clinical study for atherosclerotic cardiovascular disease.
In the first quarter of 2024, according to the financial report, core earnings per share (EPS) increased by 66% to $2.48; on a non-GAAP basis, it grew by 59% to $2.58. Both figures include a loss of $0.10 per share due to the acquisition of IPR&D expenses.
The company raised its full-year 2024 revenue guidance by $2 billion; core earnings per share guidance increased by $1.25 to $13.05 - $13.55, and on a non-GAAP basis, core earnings per share guidance increased by $1.30 to $13.50 - $14.00.
Regulatory Approvals, Clinical, Business Development, and Other Events
The positive results of the published SURMOUNT-OSA Phase 3 clinical trial showed that, compared with placebo, tirzepatide significantly reduced the apnea-hypopnea index in adult patients with moderate to severe obstructive sleep apnea and obesity.
Applications for the use of mirikizumab in treating moderate to severe Crohn's disease in adults have been submitted in the United States and the European Union.
Resubmission of lebrikizumab in the United States for the treatment of adult and adolescent patients with moderate to severe atopic dermatitis is expected to receive regulatory action in the second half of 2024.
Initiate a Phase 3 clinical study of lepodisiran to evaluate its efficacy in reducing cardiovascular risk among participants with elevated lipoprotein(a) levels who have confirmed cardiovascular disease or are at increased risk of heart attack or stroke;
The U.S. Food and Drug Administration plans to convene an expert advisory committee to discuss the data from the Phase 3 trial TRAILBLAZER-ALZ 2 study of donanemab. The study evaluated the efficacy and safety of donanemab in treating early symptomatic Alzheimer's disease.
The multidose delivery device Kwikpen for Mounjaro® has been approved in the EU, following its earlier approval in the UK in early 2024, for the indications of type 2 diabetes and chronic weight management.
Phase 3 Study Results of Lebrikizumab in Patients of Color with Moderate-to-Severe Atopic Dermatitis Show Improvement in Skin Clearance and Itch Relief;
The published EMPACT-MI Phase 3 clinical trial showed that, compared with the placebo group, the relative risk of the first hospitalization for heart failure or all-cause death in the Jardiance® group was reduced by 10%, but it did not reach statistical significance;
Due to the interim analysis showing no efficacy, the decision was made to terminate the Phase 3 CYCLONE-3 trial evaluating Veozah® for the treatment of metastatic hormone-sensitive prostate cancer.
Announcement of an agreement with Nexus Pharmaceuticals, LLC to acquire a new injectable drug manufacturing plant, which, upon completion of the transaction, will expand Eli Lilly and Company's growing drug production capacity in the United States;
The company previously announced the groundbreaking of its $2.5 billion injectable production base in Germany.
Editor: Mu Mian
Disclaimer: This article is a reprint from Yaozhi.com. The images and text are the property of the original author. The purpose of the reprint is to convey more information and does not represent the views of this platform. If there are any issues regarding content, copyright, or other matters, please leave a message on this platform, and we will address it promptly.
