Latest news with #DavidA.Ricks
Zawya
03-05-2025
- Business
- Zawya
Lilly reports first-quarter 2025 financial results and highlights pipeline momentum
RELATED TOPICS EARNINGS RELATED COMPANIES U.S. Mfg Boehringer Ingel Scorpion Pipeline progress included positive Phase 3 trial results for orforglipron (small molecule oral GLP-1 agonist) in Type 2 diabetes in the first of seven obesity and diabetes Phase 3 trials Q1 2025 EPS increased 23% to $3.06 on a reported basis and increased 29% to $3.34 on a non-GAAP basis, both inclusive of $1.72 of acquired IPR&D charges Revenue guidance reaffirmed to be between $58.0 billion and $61.0 billion Eli Lilly and Company (NYSE: LLY) today announced its financial results for the first-quarter of 2025. "Lilly had a solid start to the year, with 45% year-over-year revenue growth driven by strong sales of Mounjaro and Zepbound," said David A. Ricks, Lilly chair and CEO. "Our pipeline continued to deliver across key therapeutic areas, with product approvals in oncology and immunology, and the exciting success of our oral incretin, orforglipron, in the first of seven late-stage studies in diabetes and obesity. To support global demand for our newest medicines, we're accelerating our manufacturing investments, as underscored by our recent announcement to build four new facilities." Financial Results $ in millions, except per share data First-Quarter 2025 2024 % Change Revenue $ 12,728.5 $ 8,768.0 45 % Net income – Reported 2,759.3 2,242.9 23 % Earnings per share – Reported 3.06 2.48 23 % Net income – Non-GAAP 3,004.4 2,335.3 29 % Earnings per share – Non-GAAP 3.34 2.58 29 % A discussion of the non-GAAP financial measures is included below under "Reconciliation of GAAP Reported to Selected Non-GAAP Adjusted Information (Unaudited)." First-Quarter Reported Results In Q1 2025, worldwide revenue was $12.73 billion, an increase of 45% compared with Q1 2024, driven by a 53% increase in volume, partially offset by a 6% decrease due to lower realized prices and a 2% unfavorable impact of foreign exchange rates. Key Products1 revenue grew by $4.09 billion to $7.52 billion in Q1 2025, led by Mounjaro and Zepbound. Revenue in the U.S. increased 49% to $8.49 billion, driven by a 57% increase in volume, partially offset by a 7% decrease due to lower realized prices. The increase in U.S. volume was driven by Zepbound and Mounjaro. Revenue outside the U.S. increased 38% to $4.24 billion, driven by a 46% increase in volume. The volume increase outside the U.S. was driven primarily by Mounjaro and, to a lesser extent, Jardiance. Jardiance revenue included a one-time benefit of $370.0 million associated with an amendment to the company's collaboration with Boehringer Ingelheim. Pursuant to the amendment, we and Boehringer Ingelheim adjusted commercialization responsibilities for Jardiance within certain markets. Gross margin increased 48% to $10.50 billion in Q1 2025. Gross margin as a percent of revenue was 82.5%, an increase of 1.6 percentage points. The increase in gross margin percent was primarily driven by improved cost of production and favorable product mix, partially offset by lower realized prices. In Q1 2025, research and development expenses increased 8% to $2.73 billion, or 21.5% of revenue, driven by continued investments in the company's early and late-stage portfolio. Marketing, selling and administrative expenses increased 26% to $2.47 billion in Q1 2025, primarily driven by promotional efforts supporting ongoing and future launches. In Q1 2025, the company recognized acquired in-process research and development (IPR&D) charges of $1.57 billion compared with $110.5 million in Q1 2024. The Q1 2025 charges primarily related to the acquisition of Scorpion Therapeutics, Inc.'s PI3Kα inhibitor program STX-478. The effective tax rate was 20.2% in Q1 2025 compared with 11.6% in Q1 2024, primarily driven by the unfavorable tax impact of a non-deductible acquired IPR&D charge in Q1 2025. The 2025 and 2024 effective tax rates were impacted by discrete tax benefits in each period. In Q1 2025, net income and earnings per share (EPS) were $2.76 billion and $3.06, respectively, compared with net income of $2.24 billion and EPS of $2.48 in Q1 2024. EPS in Q1 2025 and Q1 2024 included acquired IPR&D charges of $1.72 and $0.10, respectively. First-Quarter Non-GAAP Measures On a non-GAAP basis, Q1 2025 gross margin increased 47% to $10.63 billion. Gross margin as a percent of revenue was 83.5%, an increase of 1.0 percentage point. The increase in gross margin percent was primarily driven by improved cost of production and favorable product mix, partially offset by lower realized prices. The effective tax rate on a non-GAAP basis was 20.2% in Q1 2025 compared with 11.9% in Q1 2024, primarily driven by the unfavorable tax impact of a non-deductible acquired IPR&D charge in Q1 2025. The 2025 and 2024 effective tax rates were impacted by discrete tax benefits in each period. On a non-GAAP basis, Q1 2025 net income and EPS were $3.00 billion and $3.34, respectively, compared with net income of $2.34 billion and EPS of $2.58 in Q1 2024. Non-GAAP EPS in Q1 2025 and Q1 2024 included acquired IPR&D charges of $1.72 and $0.10, respectively. For further detail on non-GAAP measures, see the reconciliation below as well as the "Reconciliation of GAAP Reported to Selected Non-GAAP Adjusted Information (Unaudited)" table later in this press release. First-Quarter 2025 2024 % Change Earnings per share (reported) $ 3.06 $ 2.48 23 % Amortization of intangible assets .11 .12 Asset impairment, restructuring and other special charges .03 — Net losses (gains) on investments in equity securities .13 (.02) Earnings per share (non-GAAP) $ 3.34 $ 2.58 29 % Acquired IPR&D 1.72 .10 NM Numbers may not add due to rounding NM – not meaningful Selected Revenue Highlights (Dollars in millions) First-Quarter Selected Products 2025 2024 % Change Mounjaro $ 3,841.8 $ 1,806.5 113 % Zepbound 2,311.9 517.4 NM Verzenio 1,158.9 1,050.3 10 % Total Revenue 12,728.5 8,768.0 45 % Mounjaro For Q1 2025, worldwide Mounjaro revenue increased 113% to $3.84 billion. U.S. revenue was $2.66 billion, an increase of 75%, reflecting continued strong demand, partially offset by lower realized prices. Revenue outside the U.S. increased to $1.19 billion compared with $286.2 million in Q1 2024, primarily driven by volume growth, including entry into new markets, partially offset by lower realized prices. Zepbound For Q1 2025, U.S. Zepbound revenue was $2.31 billion, compared with $517.4 million in Q1 2024, primarily driven by increased demand, partially offset by lower realized prices. Verzenio For Q1 2025, worldwide Verzenio revenue increased 10% to $1.16 billion. U.S. revenue was $657.6 million, an increase of 3%, driven by higher realized prices. Increased demand was more than offset by wholesaler buying patterns and competitive dynamics. Revenue outside the U.S. was $501.3 million, an increase of 22%, primarily driven by volume growth, partially offset by the unfavorable impact of foreign exchange rates. Lilly shared numerous updates recently on key regulatory, clinical, business development and other events, including: Regulatory Lilly's Jaypirca (pirtobrutinib) recommended by CHMP for approval in the European Union for adults with relapsed or refractory chronic lymphocytic leukemia (CLL) previously treated with a BTK inhibitor (announcement). Jaypirca was approved in the EU subsequent to the positive CHMP opinion. Lilly's statement about the CHMP opinion issued for donanemab (announcement). Clinical Lilly's oral GLP-1, orforglipron, demonstrated statistically significant efficacy results and a safety profile consistent with injectable GLP-1 medicines in successful Phase 3 trial (announcement). Lilly's lepodisiran reduced levels of genetically inherited heart disease risk factor, lipoprotein(a), by nearly 94% from baseline at the highest tested dose in adults with elevated levels (announcement). Lilly's baricitinib delivered high rates of hair regrowth for adolescents with severe alopecia areata in Phase 3 BRAVE-AA-PEDS study (announcement). Lilly's EBGLYSS® (lebrikizumab-lbkz) single monthly maintenance injection achieved completely clear skin at three years in half of patients with moderate-to- severe atopic dermatitis (announcement). Most patients on Lilly's Omvoh® (mirikizumab-mrkz) for Crohn's disease achieved sustained clinical remission and endoscopic response at two years (announcement). Other LillyDirect platform expands to facilitate access to Alzheimer's disease care (announcement). Lilly plans to more than double U.S. manufacturing investment since 2020 exceeding $50 billion (announcement). Lilly launches additional Zepbound vial doses and offers new savings for self-pay patients (announcement). For information on important public announcements, visit the news section of Lilly's website. 2025 Financial Guidance The company updated certain elements of its 2025 financial guidance to reflect the impact of the Q1 2025 acquired IPR&D charges. The company reaffirms its previous 2025 revenue guidance and expects it to be between $58.0 billion and $61.0 billion. The performance margin2 is still expected to be in the range of 40.5% and 42.5% on a reported basis and 41.5% and 43.5% on a non-GAAP basis. Other income (expense) on a reported basis is now expected to be expense in the range of $850 million to $750 million due to net losses on investments in equity securities and is still expected to be expense in the range of $700 million to $600 million on a non-GAAP basis. The 2025 estimated effective tax rate increased from approximately 16% to 17% on both a reported and non-GAAP basis, driven by the tax impact of the non-deductible acquired IPR&D charge incurred in Q1 2025. Guidance for EPS for 2025 decreased to the range of $20.17 to $21.67 on a reported basis, driven by the acquired IPR&D charges and net losses on investments in equity securities and $20.78 to $22.28 on a non-GAAP basis, driven by the acquired IPR&D charges. The company's updated 2025 financial guidance reflects adjustments shown in the reconciliation table below. The following table summarizes the company's updated 2025 financial guidance: Prior Updated(1) (2) (3) Revenue $58.0 to $61.0 billion Unchanged Performance Margin(4) (reported) 40.5% to 42.5% Unchanged (non-GAAP) 41.5% to 43.5% Unchanged Other Income/(Expense) (reported) ($700) to ($600) million ($850) to ($750) million Other Income/(Expense) (non-GAAP) ($700) to ($600) million Unchanged Tax Rate Approx. 16% Approx. 17% Earnings per Share (reported) $22.05 to $23.55 $20.17 to $21.67 Earnings per Share (non-GAAP) $22.50 to $24.00 $20.78 to $22.28 (1) Non-GAAP guidance reflects adjustments presented in the earnings per share reconciliation table above. (2) Guidance includes acquired IPR&D charges through Q1 2025 of $1.57 billion or $1.72 on a per share basis. Guidance does not include acquired IPR&D either incurred, or expected to be incurred, after Q1 2025. (3) This guidance is based on the existing tariff and trade environment as of May 1, 2025, and does not reflect any policy shifts, including pharmaceutical sector tariffs, that could impact business. (4) The Company defines performance margin as gross margin less R&D, Marketing, Selling, and Administrative, and Asset Impairment, Restructuring and Other Charges divided by revenue. About Lilly Lilly is a medicine company turning science into healing to make life better for people around the world. We've been pioneering life-changing discoveries for nearly 150 years, and today our medicines help tens of millions of people across the globe. Harnessing the power of biotechnology, chemistry and genetic medicine, our scientists are urgently advancing new discoveries to solve some of the world's most significant health challenges: redefining diabetes care; treating obesity and curtailing its most devastating long-term effects; advancing the fight against Alzheimer's disease; providing solutions to some of the most debilitating immune system disorders; and transforming the most difficult-to-treat cancers into manageable diseases. With each step toward a healthier world, we're motivated by one thing: making life better for millions more people. That includes delivering innovative clinical trials that reflect the diversity of our world and working to ensure our medicines are accessible and affordable. To learn more, visit and or follow us on Facebook, Instagram and LinkedIn. P-LLY
Yahoo
01-05-2025
- Business
- Yahoo
Lilly reports first-quarter 2025 financial results and highlights pipeline momentum
Revenue in Q1 2025 increased 45% to $12.73 billion driven by volume growth from Mounjaro and Zepbound. Pipeline progress included positive Phase 3 trial results for orforglipron (small molecule oral GLP-1 agonist) in Type 2 diabetes in the first of seven obesity and diabetes Phase 3 trials. Q1 2025 EPS increased 23% to $3.06 on a reported basis and increased 29% to $3.34 on a non-GAAP basis, both inclusive of $1.72 of acquired IPR&D charges. Revenue guidance reaffirmed to be between $58.0 billion and $61.0 billion. INDIANAPOLIS, May 1, 2025 /PRNewswire/ -- Eli Lilly and Company (NYSE: LLY) today announced its financial results for the first-quarter of 2025. "Lilly had a solid start to the year, with 45% year-over-year revenue growth driven by strong sales of Mounjaro and Zepbound," said David A. Ricks, Lilly chair and CEO. "Our pipeline continued to deliver across key therapeutic areas, with product approvals in oncology and immunology, and the exciting success of our oral incretin, orforglipron, in the first of seven late-stage studies in diabetes and obesity. To support global demand for our newest medicines, we're accelerating our manufacturing investments, as underscored by our recent announcement to build four new facilities." Financial Results $ in millions, except per share data First-Quarter20252024% Change Revenue $ 12,728.5$ 8,768.045 % Net income – Reported 2,759.32,242.923 % Earnings per share – Reported 3.062.4823 % Net income – Non-GAAP 3,004.42,335.329 % Earnings per share – Non-GAAP 3.342.5829 % A discussion of the non-GAAP financial measures is included below under "Reconciliation of GAAP Reported to Selected Non-GAAP Adjusted Information (Unaudited)." First-Quarter Reported Results In Q1 2025, worldwide revenue was $12.73 billion, an increase of 45% compared with Q1 2024, driven by a 53% increase in volume, partially offset by a 6% decrease due to lower realized prices and a 2% unfavorable impact of foreign exchange rates. Key Products1 revenue grew by $4.09 billion to $7.52 billion in Q1 2025, led by Mounjaro and Zepbound. Revenue in the U.S. increased 49% to $8.49 billion, driven by a 57% increase in volume, partially offset by a 7% decrease due to lower realized prices. The increase in U.S. volume was driven by Zepbound and Mounjaro. Revenue outside the U.S. increased 38% to $4.24 billion, driven by a 46% increase in volume. The volume increase outside the U.S. was driven primarily by Mounjaro and, to a lesser extent, Jardiance. Jardiance revenue included a one-time benefit of $370.0 million associated with an amendment to the company's collaboration with Boehringer Ingelheim. Pursuant to the amendment, we and Boehringer Ingelheim adjusted commercialization responsibilities for Jardiance within certain markets. Gross margin increased 48% to $10.50 billion in Q1 2025. Gross margin as a percent of revenue was 82.5%, an increase of 1.6 percentage points. The increase in gross margin percent was primarily driven by improved cost of production and favorable product mix, partially offset by lower realized prices. In Q1 2025, research and development expenses increased 8% to $2.73 billion, or 21.5% of revenue, driven by continued investments in the company's early and late-stage portfolio. Marketing, selling and administrative expenses increased 26% to $2.47 billion in Q1 2025, primarily driven by promotional efforts supporting ongoing and future launches. In Q1 2025, the company recognized acquired in-process research and development (IPR&D) charges of $1.57 billion compared with $110.5 million in Q1 2024. The Q1 2025 charges primarily related to the acquisition of Scorpion Therapeutics, Inc.'s PI3Kα inhibitor program STX-478. The effective tax rate was 20.2% in Q1 2025 compared with 11.6% in Q1 2024, primarily driven by the unfavorable tax impact of a non-deductible acquired IPR&D charge in Q1 2025. The 2025 and 2024 effective tax rates were impacted by discrete tax benefits in each period. In Q1 2025, net income and earnings per share (EPS) were $2.76 billion and $3.06, respectively, compared with net income of $2.24 billion and EPS of $2.48 in Q1 2024. EPS in Q1 2025 and Q1 2024 included acquired IPR&D charges of $1.72 and $0.10, respectively. __________________________________ 1 The Company defines Key Products as Ebglyss, Jaypirca, Kisunla, Mounjaro, Omvoh, Verzenio, and Zepbound. First-Quarter Non-GAAP Measures On a non-GAAP basis, Q1 2025 gross margin increased 47% to $10.63 billion. Gross margin as a percent of revenue was 83.5%, an increase of 1.0 percentage point. The increase in gross margin percent was primarily driven by improved cost of production and favorable product mix, partially offset by lower realized prices. The effective tax rate on a non-GAAP basis was 20.2% in Q1 2025 compared with 11.9% in Q1 2024, primarily driven by the unfavorable tax impact of a non-deductible acquired IPR&D charge in Q1 2025. The 2025 and 2024 effective tax rates were impacted by discrete tax benefits in each period. On a non-GAAP basis, Q1 2025 net income and EPS were $3.00 billion and $3.34, respectively, compared with net income of $2.34 billion and EPS of $2.58 in Q1 2024. Non-GAAP EPS in Q1 2025 and Q1 2024 included acquired IPR&D charges of $1.72 and $0.10, respectively. For further detail on non-GAAP measures, see the reconciliation below as well as the "Reconciliation of GAAP Reported to Selected Non-GAAP Adjusted Information (Unaudited)" table later in this press Change Earnings per share (reported) $ 3.06$ 2.4823 % Amortization of intangible assets .11.12 Asset impairment, restructuring and other special charges .03— Net losses (gains) on investments in equity securities .13(.02) Earnings per share (non-GAAP) $ 3.34$ 2.5829 % Acquired IPR&D 1.72.10NM Numbers may not add due to roundingNM – not meaningfulSelected Revenue Highlights(Dollars in millions) First-Quarter Selected Products 20252024% Change Mounjaro $ 3,841.8$ 1,806.5113 % Zepbound 2,311.9517.4NM Verzenio 1,158.91,050.310 % Total Revenue 12,728.58,768.045 % NM – not meaningful Mounjaro For Q1 2025, worldwide Mounjaro revenue increased 113% to $3.84 billion. U.S. revenue was $2.66 billion, an increase of 75%, reflecting continued strong demand, partially offset by lower realized prices. Revenue outside the U.S. increased to $1.19 billion compared with $286.2 million in Q1 2024, primarily driven by volume growth, including entry into new markets, partially offset by lower realized prices. Zepbound For Q1 2025, U.S. Zepbound revenue was $2.31 billion, compared with $517.4 million in Q1 2024, primarily driven by increased demand, partially offset by lower realized prices. Verzenio For Q1 2025, worldwide Verzenio revenue increased 10% to $1.16 billion. U.S. revenue was $657.6 million, an increase of 3%, driven by higher realized prices. Increased demand was more than offset by wholesaler buying patterns and competitive dynamics. Revenue outside the U.S. was $501.3 million, an increase of 22%, primarily driven by volume growth, partially offset by the unfavorable impact of foreign exchange rates. Lilly shared numerous updates recently on key regulatory, clinical, business development and other events, including: Regulatory Lilly's Jaypirca (pirtobrutinib) recommended by CHMP for approval in the European Union for adults with relapsed or refractory chronic lymphocytic leukemia (CLL) previously treated with a BTK inhibitor (announcement). Jaypirca was approved in the EU subsequent to the positive CHMP opinion. Lilly's statement about the CHMP opinion issued for donanemab (announcement). Clinical Lilly's oral GLP-1, orforglipron, demonstrated statistically significant efficacy results and a safety profile consistent with injectable GLP-1 medicines in successful Phase 3 trial (announcement). Lilly's lepodisiran reduced levels of genetically inherited heart disease risk factor, lipoprotein(a), by nearly 94% from baseline at the highest tested dose in adults with elevated levels (announcement). Lilly's baricitinib delivered high rates of hair regrowth for adolescents with severe alopecia areata in Phase 3 BRAVE-AA-PEDS study (announcement). Lilly's EBGLYSS® (lebrikizumab-lbkz) single monthly maintenance injection achieved completely clear skin at three years in half of patients with moderate-to-severe atopic dermatitis (announcement). Most patients on Lilly's Omvoh® (mirikizumab-mrkz) for Crohn's disease achieved sustained clinical remission and endoscopic response at two years (announcement). Other LillyDirect platform expands to facilitate access to Alzheimer's disease care (announcement). Lilly plans to more than double U.S. manufacturing investment since 2020 exceeding $50 billion (announcement). Lilly launches additional Zepbound vial doses and offers new savings for self-pay patients (announcement). For information on important public announcements, visit the news section of Lilly's website. 2025 Financial Guidance The company updated certain elements of its 2025 financial guidance to reflect the impact of the Q1 2025 acquired IPR&D charges. The company reaffirms its previous 2025 revenue guidance and expects it to be between $58.0 billion and $61.0 billion. The performance margin2 is still expected to be in the range of 40.5% and 42.5% on a reported basis and 41.5% and 43.5% on a non-GAAP basis. Other income (expense) on a reported basis is now expected to be expense in the range of $850 million to $750 million due to net losses on investments in equity securities and is still expected to be expense in the range of $700 million to $600 million on a non-GAAP basis. The 2025 estimated effective tax rate increased from approximately 16% to 17% on both a reported and non-GAAP basis, driven by the tax impact of the non-deductible acquired IPR&D charge incurred in Q1 2025. Guidance for EPS for 2025 decreased to the range of $20.17 to $21.67 on a reported basis, driven by the acquired IPR&D charges and net losses on investments in equity securities and $20.78 to $22.28 on a non-GAAP basis, driven by the acquired IPR&D charges. The company's updated 2025 financial guidance reflects adjustments shown in the reconciliation table below. ____________________________________ 2 The Company defines performance margin as gross margin less R&D, Marketing, Selling, and Administrative and Asset Impairment, Restructuring and Other Charges divided by revenue 2025 Guidance Earnings per share (reported) $20.17 to $21.67 Amortization of intangible assets .44 Asset impairment, restructuring, and other special charges .03 Net losses on investments in equity securities .13 Earnings per share (non-GAAP) $20.78 to $22.28 Numbers may not add due to roundingThe following table summarizes the company's updated 2025 financial guidance:Prior Updated(1) (2) (3)Revenue $58.0 to $61.0 billion UnchangedPerformance Margin(4) (reported) 40.5% to 42.5% Unchanged (non-GAAP) 41.5% to 43.5% UnchangedOther Income/(Expense) (reported) ($700) to ($600) million ($850) to ($750) million Other Income/(Expense) (non-GAAP) ($700) to ($600) million UnchangedTax Rate Approx. 16% Approx. 17%Earnings per Share (reported) $22.05 to $23.55 $20.17 to $21.67 Earnings per Share (non-GAAP) $22.50 to $24.00 $20.78 to $22.28(1) Non-GAAP guidance reflects adjustments presented in the earnings per share reconciliation table above. (2) Guidance includes acquired IPR&D charges through Q1 2025 of $1.57 billion or $1.72 on a per share basis. Guidance does not include acquired IPR&D either incurred, or expected to be incurred, after Q1 2025. (3) This guidance is based on the existing tariff and trade environment as of May 1, 2025, and does not reflect any policy shifts, including pharmaceutical sector tariffs, that could impact business. (4) The Company defines performance margin as gross margin less R&D, Marketing, Selling, and Administrative, and Asset Impairment, Restructuring and Other Charges divided by revenue. Webcast of Conference Call As previously announced, investors and the general public can access a live webcast of the Q1 2025 financial results conference call through a link on Lilly's website at The conference call will begin at 10 a.m. Eastern time today and will be available for replay via the website. Non-GAAP Financial Measures Certain financial information is presented on both a reported and a non-GAAP basis. Some numbers in this press release may not add due to rounding. Reported results were prepared in accordance with U.S. generally accepted accounting principles (GAAP) and include all revenue and expenses recognized during the periods. Non-GAAP measures reflect adjustments for the items described in the reconciliation tables later in the release. Related materials provide certain GAAP and non-GAAP figures excluding the impact of foreign exchange rates. Lilly recalculates current period figures on a constant currency basis by keeping constant the exchange rates from the base period. The company's 2025 financial guidance is provided on both a reported and a non-GAAP basis. The non-GAAP measures are presented to provide additional insights into the underlying trends in the company's business. About Lilly Lilly is a medicine company turning science into healing to make life better for people around the world. We've been pioneering life-changing discoveries for nearly 150 years, and today our medicines help tens of millions of people across the globe. Harnessing the power of biotechnology, chemistry and genetic medicine, our scientists are urgently advancing new discoveries to solve some of the world's most significant health challenges: redefining diabetes care; treating obesity and curtailing its most devastating long-term effects; advancing the fight against Alzheimer's disease; providing solutions to some of the most debilitating immune system disorders; and transforming the most difficult-to-treat cancers into manageable diseases. With each step toward a healthier world, we're motivated by one thing: making life better for millions more people. That includes delivering innovative clinical trials that reflect the diversity of our world and working to ensure our medicines are accessible and affordable. To learn more, visit and F-LLY Cautionary Statement Regarding Forward-Looking Statements This press release and the related attachments contain management's intentions and expectations for the future, all of which are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The words "estimate", "project", "intend", "expect", "believe", "target", "anticipate", "may", "could", "aim", "seek", "will", "continue", and similar expressions are intended to identify forward-looking statements. Actual results may differ materially due to various factors. The following include some but not all of the factors that could cause actual results or events to differ from those anticipated, including the significant costs and uncertainties in the pharmaceutical research and development process, including with respect to the timing and process of obtaining regulatory approvals; the impact and uncertain outcome of acquisitions and business development transactions and related costs; intense competition affecting the company's products, pipeline, or industry; market uptake of launched products and indications; continued pricing pressures and the impact of actions of governmental and private payers affecting pricing of, reimbursement for, and patient access to pharmaceuticals, or reporting obligations related thereto; safety or efficacy concerns associated with the company's or competitive products; dependence on relatively few products or product classes for a significant percentage of the company's total revenue and a consolidated supply chain; the expiration of intellectual property protection for certain of the company's products and competition from generic and biosimilar products; the company's ability to protect and enforce patents and other intellectual property and changes in patent law or regulations related to data package exclusivity; information technology system inadequacies, inadequate controls or procedures, security breaches, or operating failures; unauthorized access, disclosure, misappropriation, or compromise of confidential information or other data stored in the company's information technology systems, networks, and facilities, or those of third parties with whom the company shares its data and violations of data protection laws or regulations; issues with product supply and regulatory approvals stemming from manufacturing difficulties, disruptions, or shortages, including as a result of unpredictability and variability in demand, labor shortages, third-party performance, quality, cyber-attacks, or regulatory actions related to the company's and third-party facilities; reliance on third-party relationships and outsourcing arrangements; the use of artificial intelligence or other emerging technologies in various facets of the company's operations, which may exacerbate competitive, regulatory, litigation, cybersecurity, and other risks; the impact of global macroeconomic conditions, including uneven economic growth or downturns or uncertainty, trade and other global disputes and interruptions, including related to tariffs, trade protection measures, and similar restrictions, international tension, conflicts, regional dependencies, or other costs, uncertainties, and risks related to engaging in business globally; fluctuations in foreign currency exchange rates or changes in interest rates and inflation or deflation; significant and sudden declines or volatility in the trading price of the company's common stock and market capitalization; litigation, investigations, or other similar proceedings involving past, current, or future products or activities; changes in tax law and regulations, tax rates, or events that differ from our assumptions related to tax positions; regulatory changes and developments; regulatory oversight and actions regarding the company's operations and products; regulatory compliance problems or government investigations; risks from the proliferation of counterfeit, misbranded, adulterated or illegally compounded products; actual or perceived deviation from environmental-, social-, or governance-related requirements or expectations; asset impairments and restructuring charges; and changes in accounting and reporting standards. For additional information about the factors that could cause actual results or events to differ materially from forward-looking statements, please see the company's latest Form 10-K and subsequent Forms 8-K and 10-Q filed with the Securities and Exchange Commission. You should not place undue reliance on forward-looking statements contained in this press release and the related attachments, which, except as otherwise noted, speak only as of the date of this release. Except as is required by law, the company expressly disclaims any obligation to publicly release any revisions to forward-looking statements contained in this press release and the related attachments to reflect events or circumstances after the date of this release. Website Information The information contained on, or that may be accessed through, our website or any third-party website is not incorporated by reference into, and is not a part of, this earnings release. Trademarks and Trade Names All trademarks or trade names referred to in this press release are the property of the company, or, to the extent trademarks or trade names belonging to other companies are references in this press release, the property of their respective owners. Solely for convenience, the trademarks and trade names in this press release are referred to without the ® and ™ symbols, but such references should not be construed as any indicator that the company or, to the extent applicable, their respective owners will not assert, to the fullest extent under applicable law, the company's or their rights thereto. We do not intend the use or display of other companies' trademarks and trade names to imply a relationship with, or endorsement or sponsorship of us by, any other companies Eli Lilly and Company Operating Results (Unaudited) – REPORTED(Dollars in millions, except per share data)Three Months Ended March 31, 20252024% $ 12,728.5 $ 8,768.045 %Cost of sales2,224.21,673.533 % Research and development2,733.72,522.88 % Marketing, selling and administrative2,468.81,952.226 % Acquired IPR&D1,571.7110.5NM Asset impairment, restructuring and other special charges35.0—NM Operating income3,695.12,509.047 %Net interest income (expense)(195.4)(133.8) Net other income (expense)(43.6)160.9 Other income (expense)(239.0)27.1NMIncome before income taxes3,456.12,536.136 % Income tax expense696.8293.2138 %Net income $ 2,759.3 $ 2,242.923 %Earnings per share - diluted $ 3.06 $ 2.4823 %Dividends paid per share $ 1.50 $ 1.3015 % Weighted-average shares outstanding (thousands) - diluted900,604903,802NM – not meaningful Eli Lilly and Company Reconciliation of GAAP Reported to Selected Non-GAAP Adjusted Information (Unaudited) (Dollars in millions, except per share data and numbers may not add due to rounding)Three Months Ended March 31, 2025 2024 Gross Margin - As Reported$ 10,504.3 $ 7,094.5 Increase for excluded items:Amortization of intangible assets (Cost of sales)(1)123.0 139.1 Gross Margin - Non-GAAP$ 10,627.3 $ 7,233.6 Gross Margin as a percent of revenue - As Reported82.5 % 80.9 % Gross Margin as a percent of revenue - Non-GAAP(2)83.5 % 82.5 % 1. Exclude amortization of intangibles primarily associated with costs of marketed products acquired or licensed from third parties. 2. Non-GAAP gross margin as a percent of revenue reflects the gross margin effects of the adjustments presented above. Three Months Ended March 31, 2025 2024 Net income - Reported$ 2,759.3 $ 2,242.9 Increase (decrease) for excluded items:Amortization of intangible assets (Cost of sales)(1)123.0 139.1 Asset impairment, restructuring and other special charges(2)35.0 — Net (gains) losses on investments in equity securities (Other income/expense)152.0 (23.4) Corresponding tax effects (Income taxes)(64.9) (23.3) Net income - Non-GAAP$ 3,004.4 $ 2,335.3 Effective tax rate - Reported20.2 % 11.6 % Effective tax rate - Non-GAAP(3)20.2 % 11.9 % Earnings per share (diluted) - Reported$ 3.06 $ 2.48 Earnings per share (diluted) - Non-GAAP$ 3.34 $ 2.58 1. Exclude amortization of intangibles primarily associated with costs of marketed products acquired or licensed from third parties. 2. For the three months ended March 31, 2025, excludes charges related to intangible asset impairments. 3. Non-GAAP tax rate reflects the tax effects of the adjustments presented above. Refer to: Ashley Hennessey; gentry_ashley_jo@ (317) 416-4363 (Media)Mike Czapar; czapar_michael_c@ (317) 617-0983 (Investors) View original content to download multimedia: SOURCE Eli Lilly and Company Sign in to access your portfolio
Yahoo
01-05-2025
- Business
- Yahoo
Eli Lilly (NYSE:LLY) Beats Q1 Sales Targets
Global pharmaceutical company Eli Lilly (NYSE:LLY) reported Q1 CY2025 results exceeding the market's revenue expectations , with sales up 45.2% year on year to $12.73 billion. The company expects the full year's revenue to be around $59.5 billion, close to analysts' estimates. Its non-GAAP profit of $3.34 per share was 3.4% below analysts' consensus estimates. Is now the time to buy Eli Lilly? Find out in our full research report. Revenue: $12.73 billion vs analyst estimates of $12.62 billion (45.2% year-on-year growth, 0.9% beat) Adjusted EPS: $3.34 vs analyst expectations of $3.46 (3.4% miss) The company reconfirmed its revenue guidance for the full year of $59.5 billion at the midpoint Management lowered its full-year Adjusted EPS guidance to $21.53 at the midpoint, a 7.4% decrease Operating Margin: 29%, in line with the same quarter last year Market Capitalization: $807.2 billion "Lilly had a solid start to the year, with 45% year-over-year revenue growth driven by strong sales of Mounjaro and Zepbound," said David A. Ricks, Lilly chair and CEO. Founded in 1876 by a Civil War veteran and pharmacist who was frustrated with the poor quality of medicines available at the time, Eli Lilly (NYSE:LLY) discovers, develops, and manufactures pharmaceutical products for conditions including diabetes, obesity, cancer, immunological disorders, and neurological diseases. Examining a company's long-term performance can provide clues about its quality. Any business can put up a good quarter or two, but many enduring ones grow for years. Over the last five years, Eli Lilly grew its sales at a solid 16.2% compounded annual growth rate. Its growth surpassed the average healthcare company and shows its offerings resonate with customers, a great starting point for our analysis. Long-term growth is the most important, but within healthcare, a half-decade historical view may miss new innovations or demand cycles. Eli Lilly's annualized revenue growth of 33% over the last two years is above its five-year trend, suggesting its demand was strong and recently accelerated. This quarter, Eli Lilly reported magnificent year-on-year revenue growth of 45.2%, and its $12.73 billion of revenue beat Wall Street's estimates by 0.9%. Looking ahead, sell-side analysts expect revenue to grow 28.5% over the next 12 months, a deceleration versus the last two years. Still, this projection is eye-popping given its scale and implies the market is forecasting success for its products and services. Software is eating the world and there is virtually no industry left that has been untouched by it. That drives increasing demand for tools helping software developers do their jobs, whether it be monitoring critical cloud infrastructure, integrating audio and video functionality, or ensuring smooth content streaming. Click here to access a free report on our 3 favorite stocks to play this generational megatrend. Operating margin is a key measure of profitability. Think of it as net income - the bottom line - excluding the impact of taxes and interest on debt, which are less connected to business fundamentals. Eli Lilly has been an efficient company over the last five years. It was one of the more profitable businesses in the healthcare sector, boasting an average operating margin of 24.5%. Looking at the trend in its profitability, Eli Lilly's operating margin rose by 6.7 percentage points over the last five years, as its sales growth gave it operating leverage. The company's two-year trajectory shows its performance was mostly driven by its recent improvements. These data points are very encouraging and shows momentum is on its side. This quarter, Eli Lilly generated an operating profit margin of 29%, in line with the same quarter last year. This indicates the company's overall cost structure has been relatively stable. Revenue trends explain a company's historical growth, but the long-term change in earnings per share (EPS) points to the profitability of that growth – for example, a company could inflate its sales through excessive spending on advertising and promotions. Eli Lilly's EPS grew at an astounding 17.6% compounded annual growth rate over the last five years, higher than its 16.2% annualized revenue growth. This tells us the company became more profitable on a per-share basis as it expanded. Diving into Eli Lilly's quality of earnings can give us a better understanding of its performance. As we mentioned earlier, Eli Lilly's operating margin was flat this quarter but expanded by 6.7 percentage points over the last five years. On top of that, its share count shrank by 1.2%. These are positive signs for shareholders because improving profitability and share buybacks turbocharge EPS growth relative to revenue growth. In Q1, Eli Lilly reported EPS at $3.34, up from $2.58 in the same quarter last year. Despite growing year on year, this print missed analysts' estimates, but we care more about long-term EPS growth than short-term movements. Over the next 12 months, Wall Street expects Eli Lilly's full-year EPS of $13.76 to grow 84.4%. It was good to see Eli Lilly narrowly top analysts' revenue expectations this quarter. On the other hand, its EPS in the quarter missed on lower-than-expected profitability and full-year EPS guidance also missed significantly. Overall, this was a softer quarter. The stock traded down 3.9% to $860.72 immediately after reporting. Eli Lilly underperformed this quarter, but does that create an opportunity to invest right now? The latest quarter does matter, but not nearly as much as longer-term fundamentals and valuation, when deciding if the stock is a buy. We cover that in our actionable full research report which you can read here, it's free.
Yahoo
18-04-2025
- Health
- Yahoo
Lilly says new daily pill can help with weight loss, blood sugar
(NewsNation) — Eli Lilly announced Thursday its experimental weight-loss pill passed its first late-stage trial among patients with diabetes, delivering on the company's promise to lower blood sugar and body weight like other GLP-1 drugs such as Ozempic and Wegovy. Lilly's Phase 3 trial showed that Type 2 diabetes patients lost an average of 16 pounds, or nearly 8% of their body weight, over 40 weeks. When the study ended, weight loss did not plateau, suggesting that patients may continue to lose weight, Lilly said. The daily pill, called orforglipron, lowered blood sugar levels by an average of 1.3% and has a 'safety profile' consistent with other GLP-1 drugs, according to Lilly. Man dies after getting wrong treatment, doc disciplined On Monday, Pfizer ended development of its once-daily weight-loss pill, called danuglipron, after a trial patient experienced a possible drug-induced liver injury that ended once the patient stopped taking the drug. Lilly said 8% of trial patients on orforglipron's highest dose discontinued treatment due to adverse events. If the drug is approved, Lilly said it is 'confident in its ability to launch orforglipron worldwide without supply constraints.' 'As a convenient once-daily pill, orforglipron may provide a new option and, if approved, could be readily manufactured and launched at scale for use by people around the world,' said Lilly CEO David A. Ricks. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
17-04-2025
- Health
- Yahoo
First GLP-1 pill for weight loss, diabetes shows success in late-phase trial
Injectables for type 2 diabetes and weight loss could soon be a thing of the past. Eli Lilly announced Thursday the successful completion of a phase 3 trial of Orforglipron – the first small-molecule GLP-1 that is administered as a once-daily oral pill. The ACHIEVE-1 trial evaluated the efficacy of Orforglipron compared to placebo in adults with type 2 diabetes and "inadequate glycemic control with diet and exercise alone." Fake Ozempic Drugs Found In Us Drug Supply, Fda Warns The results showed lowered A1C (blood sugar) in patients by an average of 1.3% to 1.6% across doses, according to a press release. More than 65% of participants taking the highest dose of the drug scored an A1C less than or equal to 6.5%, which is below the defined threshold for diabetes, according to the American Diabetes Association. Read On The Fox News App Click Here To Sign Up For Our Health Newsletter Trial participants also saw reduced weight by an average of 16 pounds, or 7.9%, at the highest dose. Participants had not reached a weight plateau when the study ended, which suggests there was still weight to be lost, according to the researchers. The trial also found that the overall safety and tolerability of the drug was consistent with the classic injectable GLP-1s, like Ozempic, Wegovy, Mounjaro and Zepbound. If Orforglipron achieves approval by the U.S. Food and Drug Administration, Eli Lilly projected its confidence in launching the drug "worldwide without supply constraints." For more Health articles, visit "This would further Lilly's mission to reduce chronic diseases like type 2 diabetes, which is expected to impact an estimated 760 million adults by 2050," the pharmaceutical company wrote in its announcement. David A. Ricks, Eli Lilly chair and CEO, commented in a statement, "We are pleased to see that our latest incretin medicine meets our expectations for safety and tolerability, glucose control and weight loss, and we look forward to additional data readouts later this year." "As a convenient once-daily pill, Orforglipron may provide a new option and, if approved, could be readily manufactured and launched at scale for use by people around the world." Eli Lilly intends to submit Orforglipron for weight management to global regulatory agencies by the end of 2025, as well as for type 2 diabetes treatment in 2026, according to the article source: First GLP-1 pill for weight loss, diabetes shows success in late-phase trial
