2023 was a year of tremendous achievement for Lilly, which delivered life-changing medicines to more patients than ever before resulting in strong revenue growth,” said David A. Ricks, Lilly’s chair and CEO. “We advanced our pipeline of new medicines for serious diseases and created new partnerships and innovative ways of collaborating to add to that pipeline. Lilly invested in the quality, reliability and resilience of our supply chain with new advanced manufacturing plants and lines in the U.S. and in Europe. Entering 2024, we remain focused on the opportunity in front of us, to help solve some of the most challenging healthcare problems in the world and make life better for millions of patients.”
Financial Highlights for Q4 2023:
- Revenue increased by 28%, showcasing strong growth momentum.
- New Products(i) revenue surged to $2.49 billion, led by Mounjaro and Zepbound.
- Growth Products(ii) revenue saw a 9% increase, driven by Verzenio and Jardiance.
Pipeline Progress:
- FDA approval of Zepbound for adults with obesity or overweight with weight-related comorbidities.
- FDA approval of Jaypirca for chronic lymphocytic leukemia or small lymphocytic lymphoma under the Accelerated Approval Program.
- Positive results from SYNERGY-NASH, a Phase 2 study of tirzepatide in adults with nonalcoholic steatohepatitis (NASH).
Business Development Highlights:
- Completed acquisitions of POINT Biopharma Global Inc. and Mablink Biosciences SAS.
Guidance for 2024:
- Revenue expected in the range of $40.4 billion to $41.6 billion.
- EPS projected in the range of $11.80 to $12.30, with non-GAAP EPS in the range of $12.20 to $12.70.
David A. Ricks expressed optimism about the company’s future endeavors, emphasizing Lilly’s commitment to innovation and patient care. The recent FDA approvals and pipeline advancements underscore Lilly’s dedication to addressing unmet medical needs.
For more information, visit Eli Lilly and Company.
(i) Lilly defines New Products as select products launched since 2022, which currently consist of Ebglyss, Jaypirca, Mounjaro, Omvoh, and Zepbound. (ii) Lilly defines Growth Products as select products launched prior to 2022, which currently consist of Cyramza, Emgality, Jardiance, Olumiant, Retevmo, Taltz, Trulicity, Tyvyt, and Verzenio.
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