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Chicago Tribune
02-06-2025
- Business
- Chicago Tribune
AbbVie partners with Chicago Cubs to fund cancer research; ‘We aim to create greater awareness for cancer advocacy'
AbbVie may be known to many people for its medicines like Jardiance, Rinvoq and Skyrizzi, through their television commercials, but in laboratories in a building on its 70-acre North Chicago campus a group of scientists is on the cutting edge of cancer treatment. Though there is an emphasis on blood cancers, Andy Souers, AbbVie's vice president heading oncology discovery research, said the scientists are also trying to find treatments that work for ovarian, lung and colorectal cancers, among others. Working meticulously over sometimes long periods of time, looking at human cells and the molecules within them, Souers said the scientists look for ways to kill the malignant cells to improve a patient's condition. 'We take white cells out of the body to help find ways of curation,' Souers said. 'We look for ways we can just kill the tumor cells.' As Souers and his colleagues in AbbVie's labs work to find more solutions to treat cancer, the company is increasing its awareness campaign for cancer advocacy, including a partnership with the Chicago Cubs announced Friday, which could put thousands of dollars toward treating cancer. Dubbed 'Striking Out Cancer,' for every strikeout a Cub pitcher throws during the 2025 home season starting last Friday, AbbVie will donate $233 to Cub Charities, according to an AbbVie press release. The $233 amount is in honor of the 233 Americans diagnosed with cancer every hour. 'Together with our hometown partner, the Chicago Cubs, we aim to create greater awareness for cancer advocacy and to make a remarkable impact for those living with cancer worldwide,' Tracie Haas, AbbVie's senior vice president for corporate affairs, said in the release. In the Cubs' three games over the weekend. the team's pitchers struck out 18 batters netting nearly $5,000 to fight cancer. With 63 home games left this season, the donation could approach more than $100,000. While the Cub pitchers are doing their part, AbbVie's scientists continue to look for more ways to snuff out cancerous cells. Other people at the company are doing their part, getting the medicine to the patients who need it. Lung cancer is a serious concern and receiving a lot of emphasis from AbbVie because, Souers said, it is one of the deadliest. The five-year survival rate is less than 10%, creating an urgency in the lab. 'It's a small cell and that makes it very, very hard,' Souers said. 'Our goal is to dose the patient. Once we have something which works, we go to the next generation of the medicine.' In the labs, people and machines are working together to test and retest potential medicines until they work. Emily Faivre, a senior principal research scientist working in the labs devoted to finding effective medicine to treat cancer, said the testing is rigorous before the approval process even starts. Holding a 2½-inch-by-four-inch specimen container with 384 wells — it's like a honeycomb from a beehive — Faivre said each well receives a drop of material for testing through laboratory equipment. 'It reads enzyme activity,' Faivre said. 'The molecules are very small. We need to know how many we need to kill a cancer cell.' Once the medicine is created and completes the regulatory process, with the U.S. Food and Drug Administration as well as similar agencies in other countries around the world, Brian Anderson deals with the logistics of getting it to other nations. Anderson, AbbVie's vice president of product development for science and technology, said the company has established two distinct supply chains. If there is a problem with one, the other can pick up the slack while the issue is resolved. It assures a patient will get their life-saving drug. 'We supply these medicines to 175 countries around the world,' Anderson said. 'We are doing this on a fairly large scale. Thousands of people need this product.'
Globe and Mail
17-05-2025
- Business
- Globe and Mail
Jim Cramer Says You Should Buy This ‘Strong Buy' Stock ‘Hand Over Fist'
Eli Lilly (LLY) is a leading pharmaceutical company that discovers, develops, manufactures, and markets healthcare products. The company focuses on major areas such as cardiometabolic health, immunology, oncology, and neuroscience. About LLY Stock Eli Lilly's stock has seen plenty of volatility this year and stands at a loss of 2% in the year to date. The stock is up roughly 3% in the last month but down close to 11% in its past three months. It is also down just under 2% over the past 52 weeks. Taking a long-term view, the stock has gained 73% in the last two years and nearly 390% in the last five years. Eli Lilly Miss EPS Estimates Eli Lilly posted its first-quarter results on May 1. Revenue increased 45% to $12.73 billion, beating analyst estimates of $12.62 billion. However, the company's profit of $3.34 per adjusted share missed analysts' $3.52-per-share estimate. Sales for Mounjaro came to $3.84 billion, a 113% rise year-over-year, and also beat analysts' $3.75 billion estimate. Zepbound generated $2.31 billion in revenue, also beating analysts' $2.27 billion estimate while recording a 20.9% rise year-over-year. Jardiance grew 48% YoY to $1.01 billion, easily beating analysts' $675 million estimate. For 2025, management has reiterated its revenue guidance but has lowered its earnings expectations. Revenue is anticipated in a range of $58 billion to $61 billion, reflecting 32% annual growth at the midpoint. Eli Lilly lowered its earnings guidance from a range of $22.50 to $20.78 per share to a range of $22.28 to $20.78 per share. Jim Cramer on Eli Lilly Jim Cramer, the Mad Money host, emphasized Eli Lilly's advantage in the weight-loss drug market, especially against rival Novo Nordisk (NVO). The expert pointed out that new data showed Eli Lilly's GLP-1 drug to be significantly better than Novo Nordisk's offering in terms of weight-loss effectiveness. As per reports, participants who took Eli Lilly's Zepbound lost an average of 50 pounds over 72 weeks, while participants who took Novo Nordisk's Wegovy lost an average of 33 pounds. The key difference in the drug is, that Zepbound targets two hormones, GLP-1 and GIP, on the other hand, Wegovy only targets GLP-1. Cramer argued that once investors recognize the clear superiority of Eli Lilly's drug, its stock could see a major surge of around 100 points. Thus, he encouraged investors to buy up the stock 'hand over fist' given the company's solid position in the weight-loss market. Analyst Takes on Eli Lilly Eli Lilly has always been a favorite on Wall Street, receiving a 'Strong Buy' rating from experts with a mean price target of $992.17, reflecting upside potential of 31% from current prices. 25 analysts have reviewed the stock and given it 21 'Strong Buy' ratings, one 'Moderate Buy' rating, and three 'Hold' ratings.
Yahoo
14-05-2025
- Business
- Yahoo
Lilly Down 17% Since Q1 Results: Should You Buy the Dip in LLY Stock?
Eli Lilly and Company's LLY shares have lost 17% so far in May. Lilly announced mixed earnings results on May 1. It missed first-quarter estimates for earnings but beat the same for sales. Sales of key drugs, Mounjaro, Zepbound, Jardiance, and Taltz beat estimates, while only Verzenio missed expectations. Lilly's new products also contributed to sales growth. Trulicity sales continued to decline in the quarter. Lilly maintained its sales guidance for 2025 while lowering its earnings expectations to account for the charges recorded in the first quarter related to the acquisition of the Scorpion Therapeutics PI3Kα inhibitor program. Excluding these charges, the company's EPS guidance was unchanged. Despite the better-than-expected sales performance, Lilly's stock nosedived 11% the day it announced the first-quarter results. However, this was not just for the earnings miss and the EPS guidance cut. The stock also took a hit because CVS Caremark, a major pharmacy benefit manager ('PBM'), announced a partnership with rival Novo Nordisk NVO to make NVO's Wegovy its preferred GLP-1 therapy for weight loss, effective July 1. NVO also recently announced partnerships with telehealth providers Hims & Hers Health to offer Wegovy at a discounted price to cash-paying patients. However, we believe the stock's sell-off following the first-quarter earnings was an overreaction. Let's understand the company's strengths and weaknesses to better analyze how to play the stock amid the recent price dip. Lilly has a strong portfolio of medicines to treat diabetes and other cardiometabolic diseases and its cardiometabolic business is its most successful business, particularly with the success of its popular tirzepatide medicines, diabetes drug Mounjaro and weight loss medicine, Zepbound. Despite being on the market for less than three years, Mounjaro and Zepbound became key top-line drivers for Lilly, with demand rising rapidly. Mounjaro and Zepbound generated combined sales of $6.15 billion in the first quarter of 2025, accounting for around 48% of the company's total revenues. Though sales of Mounjaro and Zepbound were below expectations in the second half of 2024, hurt by slower-than-expected growth and unfavorable channel dynamics, their sales picked up in the first quarter of 2025, driven by launches of the drugs in new international markets and improved supply from ramped-up production. Both drugs enjoy increasing market share inthe United States. Mounjaro is the market leader in new prescription within type II diabetes incretin analogs. In the first quarter, Zepbound held the leading market share in the anti-obesity market, with total prescription and new prescription reaching 60% and 74% respectively. We believe that increased uptake in outside U.S. markets and deeper penetration into the U.S. market will continue to drive Mounjaro and Zepbound's growth in future quarters. Mounjaro was recently launched in China, and Lilly expects to increase commercial launches in the country in the second half of 2025 as supply improves. Lilly also launched Mounjaro in India and Mexico recently and plans to continue with additional country launches throughout 2025. Approvals for new indications can also drive sales of Mounjaro and Zepbound higher. In late December, the FDA approved Zepbound for its second indication, moderate-to-severe obstructive sleep apnea in adults with obesity. In addition, LLY filed tirzepatide for heart failure, which further expands the opportunity for the candidate. It also expects to announce data from a cardiovascular outcome study on tirzepatide this year. In 2025, Lilly launched additional Zepbound lower-priced vial doses and offered new savings for self-pay patients to boost sales. Other than Mounjaro and Zepbound, Lilly has gained approvals for some other new drugs in the past couple of years. These include Omvoh for ulcerative colitis and Crohn's disease, BTK inhibitor Jaypirca for mantle cell lymphoma and chronic lymphocytic leukemia, Ebglyss for moderate-to-severe atopic dermatitis and Kisunla (donanemab) for early symptomatic Alzheimer's disease. Its new drugs are also contributing to its top-line growth. Lilly expects its new drugs, Mounjaro, Zepbound, Omvoh, Jaypirca, Ebglyss and Kisunla, along with the expanded use of existing drugs, to drive sales growth in 2025. It also expects the potential launch of new medicines like imlunestrant for metastatic breast cancer to contribute to growth in 2025. Lilly is also making rapid pipeline progress in obesity, diabetesand cancer, with several key mid and late-stage data-readouts expected this year. Lilly is investing broadly in obesity and has several new molecules currently in clinical development. These include two late-stage candidates, orforglipron, an oral GLP-1 small molecule, and retatrutide, a GGG tri-agonist and some mid-stage candidates, bimagrumab, eloralintide and mazdutide. Data from the first of the seven phase III studies on orforglipron in type II diabetes and obesity was announced in April 2025. In the study, orforglipron lowered A1C by an average of 1.3% - 1.6% across doses and also reduced weight by an average of 16lb (7.9%) at the highest dose. Lilly expects to report additional results from the phase III ACHIEVE clinical program, as well as data from the phase III ATTAIN clinical program evaluating orforglipron for obesity, later this year. It plans to file regulatory applications for orforglipron in obesity by the end of this year and for type II diabetes in the first half of 2026. The obesity market is heating up and is expected to expand to $100 billion by 2030, according to data from Goldman Sachs. Lilly and Novo Nordisk presently dominate the market. Several companies like Amgen AMGN and Viking Therapeutics VKTX are also making rapid progress in the development of GLP-1-based candidates in their clinical pipeline. Amgen has begun a broad phase III program on its dual GIPR/GLP-1 receptor agonist, MariTide, across obesity, obesity-related conditions and type-II diabetes, with the first two phase III studies initiated in March. Viking Therapeutics' dual GIPR/GLP-1 receptor agonist, VK2735, is being developed both as oral and subcutaneous formulations for the treatment of obesity. Phase III studies with the subcutaneous formulation of VK2735 are on track to begin in the second quarter. AMGN and VKTX's products can pose strong competition to Mounjaro/Zepbound and NVO's Ozempic/Wegovy in the future. Others like Roche, Merck and AbbVie are also looking to enter the obesity space by in-licensing obesity candidates from smaller biotechs, which could threaten Novo Nordisk and Eli Lilly's dominance in the market. Lilly's stock has declined 3.2% so far this year, underperforming the industry's decrease of 2.4% Image Source: Zacks Investment Research The stock is trading at a premium to the industry, as seen in the chart below. Image Source: Zacks Investment Research Estimates for Lilly's 2025 earnings have declined from $23.49 to $22.20 per share in the past 30 days, while those for 2026 have declined from $31.28 to $30.83 over the same timeframe. Image Source: Zacks Investment Research Lilly is battling several challenges at present. Sales of its key medicine, Trulicity, are declining in the United States due to competitive dynamics, including Mounjaro switches and supply constraints. Prices of most of Lilly's products are declining in the United States, including Mounjaro and Zepbound, primarily due to changes to estimates for rebates and discounts. Lilly's U.S. net price has declined every year since 2021. In 2025, Lilly expects a mid-to-high single-digit percentage price decline, including U.S. Part D changes. Potential competition in the GLP-1 diabetes/obesity market is another headwind. Trump and the Republican government also continue to stress on the control of drug prices with the latest attempt being his 'most favored nations' policy.' The potential impact of tariffs imposed by the United States and some other countries is a concern. Though Lilly's 2025 earnings guidance absorbs the impact of tariffs already in place, expanding tariffs in other geographies or increases in retaliatory tariffs would hurt the financial outlook. Though pharmaceuticals have been exempted from tariffs this time around, they could well be Trump's target in the next round, considering the President's goal to shift pharmaceutical production back to the United States, mostly from European and Asian countries. Also, CVS' deal with NVO, which can hurt Zepbound's market share, has raised investor concerns about such PBM formulary changes in the obesity space. However, regarding the deal, Lilly's CEO, Dave Ricks, said that Lilly was not interested in such one-on-one deals and was more focused on expanding access for Zepbound. He does not expect CVS' decision to exclude Zepbound in favor of Wegovy to hurt Lilly's revenues. Looking at the brighter side, Lilly's tremendous success with Mounjaro and Zepbound has made it the largest drugmaker with a market cap of more than $700 billion. Lilly's stock has gone up by almost 400% in the past five years, mainly due to its successful new drug launches, particularly Mounjaro and Zepbound, and its solid pipeline potential. In 2025, Lilly expects to record revenues in the range of $58.0 billion to $61.0 billion, indicating an impressive 32% year-over-year growth. Lilly's revenue growth is being driven by higher demand for Mounjaro, Zepbound, Verzenio, and others, which is making up for the decline in sales from Trulicity. LLY returned $2.5 billion to shareholders in the first quarter via share repurchases and dividends. Despite an expensive valuation and declining estimates, we suggest investors who own this Zacks Rank #3 (Hold) company retain it as it has solid growth prospects despite some near-term headwinds. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Lilly's stock is trading below its 5-year mean now. The recent dip in price can be used as a buying opportunity for long-term investors. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Novo Nordisk A/S (NVO) : Free Stock Analysis Report Eli Lilly and Company (LLY) : Free Stock Analysis Report Amgen Inc. (AMGN) : Free Stock Analysis Report Viking Therapeutics, Inc. (VKTX) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Sign in to access your portfolio
Newsweek
12-05-2025
- Health
- Newsweek
Bernie Sanders Issues Warning About Trump's Drug Pricing Executive Order
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. Senator Bernie Sanders issued a warning about President Donald Trump's latest executive order aimed at lowering drug prices. Newsweek reached out to the White House for comment via email. Why It Matters Americans often pay more for prescription drugs than consumers in other countries, which has fueled calls for lawmakers to pass legislation that would allow for the federal government to negotiate lower prices. Trump and others have argued it's unfair that Americans would pay higher prices for the same drugs, but critics have argued this will stifle innovation at pharmaceutical companies. President Donald Trump speaks during a press conference in the Roosevelt Room of the White House on May 12, 2025, in Washington, D.C. President Donald Trump speaks during a press conference in the Roosevelt Room of the White House on May 12, 2025, in Washington, To Know Sanders, who has regularly pushed for Congress to take action on lower drug prices, reacted to the executive order in a statement released Monday. Sanders is a Vermont independent who caucuses with Democrats and is one of the most progressive senators. He warned he does not believe courts will allow the order to stand, encouraging Trump to instead support a bill that would lower drug prices for Americans. Several of Trump's executive orders have faced legal challenges over his authority since his return to office, holding up much of his agenda in the courts. He added that the issue isn't that drug prices are too low in Europe and Canada, but rather the "extraordinarily greedy pharmaceutical industry." "As Trump well knows, his executive order will be thrown out by the courts," he wrote. "If Trump is serious about making real change rather than just issuing a press release, he will support legislation I will soon be introducing to make sure we pay no more for prescription drugs than people in other major countries." Data from Peterson-Kaiser Family Foundation revealed the differing costs of five popular prescription drugs—Eliquis, Jardiance, Entresto, Januvia and Ozempic—between the U.S., U.K., Canada, France and Japan. The data shows U.S. costs being significantly higher than the other countries for the same drugs. In January, Trump signed a separate executive order rescinding a Biden-era policy aimed at lowering prescription drug prices. He also signed an order last month ordering the Department of Health and Human Services (HHS) to take new steps to lower drug costs through market forces. What People Are Saying DHS Secretary Robert F. Kennedy Jr. wrote to X: "Americans pay three times more for prescription drugs than patients in other wealthy countries. That ends now. Today, President Trump signed an Executive Order to demand Most-Favored-Nation pricing — no more gouging Americans to subsidize foreign governments." Justin Amash, a former member of Congress from Michigan who served as a Republican and Libertarian, wrote to X: "Tl;dr: Trump supports economically foolish price controls for prescription drugs and pharmaceuticals and will sign an executive order to sidestep Congress and the Veteran Democratic strategist David Axelrod wrote to X: "Trump exec orders can be as meaningful as a Trump University degree. But if he actually delivers on what Biden started and dramatically lowers U.S. Rx costs for consumers --without limiting access to lifesaving drugs--I will be the first to applaud." What Happens Next The executive order gives drug companies 30 days to lower prices. If companies do not comply, the order would allow the HHS secretary to propose a "rulemaking plan to impose most-favored-nation pricing."
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
