Bank of America just raised its EUR/USD forecast
INDIANAPOLIS - Eli Lilly and Company (NYSE:LLY), currently valued at over $718 billion and trading above its InvestingPro Fair Value, announced today that its full-year revenue for 2024 is expected to reach approximately $45.0 billion, marking a significant 32% increase from the previous year. The pharmaceutical giant, maintaining an impressive 80.9% gross profit margin, also forecasts revenue for 2025 to be between $58.0 billion and $61.0 billion, indicating continued growth momentum.
Despite the overall annual growth, the company’s fourth-quarter revenue for 2024 is projected to be around $13.5 billion, which is $400 million lower than the previously issued guidance. This figure, however, still represents a 45% increase compared to the same period in 2023. The company attributes the shortfall to a slower acceleration in the U.S. incretin market and lower-than-expected inventory levels at year-end.
Eli Lilly’s Q4 performance was bolstered by strong sales of its diabetes drug Mounjaro® and cancer treatment Zepbound®, contributing approximately $3.5 billion and $1.9 billion, respectively. Other areas such as oncology, immunology, and neuroscience also showed robust growth.
David A. Ricks, Lilly's CEO, expressed optimism about the company’s trajectory, noting that while Q4 results did not meet their earlier predictions, the medicines performed within expectations. Ricks also highlighted the progress in the company's manufacturing capabilities, particularly the availability of tirzepatide doses throughout the quarter.
Looking ahead to 2025, revenue growth is anticipated from newly launched medicines like Jaypirca®, Ebglyss™, Omvoh®, and Kisunla™, as well as from new indications for existing drugs and the expansion of Mounjaro into additional global markets. The company plans to increase manufacturing capacity, expecting to produce at least 60% more salable doses of incretins in the first half of 2025 compared to the same period in 2024. InvestingPro analysis reveals 15+ additional investment insights and key metrics about Eli Lilly's growth trajectory, available in the comprehensive Pro Research Report.
Eli Lilly’s full Q4 2024 financial results and more detailed 2025 guidance will be shared on February 6, 2025. The preliminary financial information presented in this press release is subject to change following financial closing procedures. This announcement is based on a press release statement.
In other recent news, Eli Lilly has made significant strides in the pharmaceutical sector. The company recently acquired Scorpion Therapeutics' PI3Kα inhibitor program, including STX-478, a potential treatment for hormone-positive breast cancer, in a deal that could total $2.5 billion. Analysts from Truist Securities have reaffirmed their Buy rating on Eli Lilly, expressing confidence in the company's obesity drugs, Mounjaro and Zepbound, while Citi also maintains a Buy rating on Eli Lilly shares. TD Cowen, on the other hand, raised concerns about the global pharmaceutical industry's future due to the impact of U.S. tariffs and geopolitical tensions, but noted that large-cap pharmaceutical companies, including Eli Lilly, are well-positioned to mitigate these risks. These are among the recent developments in the pharmaceutical industry, underscoring the continued growth and potential challenges faced by Eli Lilly.
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