On January 14, 2025 Eli Lilly and Company (NYSE: LLY) reported that it expects 2024 full-year worldwide revenue to be approximately $45.0 billion, which represents growth of 32% compared to the previous year (Press release, Eli Lilly, JAN 14, 2025, View Source [SID1234649704]). The company also shared 2025 revenue guidance, anticipating sales will be between $58.0 billion and $61.0 billion.
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For Q4 2024, Lilly now expects worldwide revenue to be approximately $13.5 billion, representing growth of 45% compared to Q4 2023. This includes approximately $3.5 billion for Mounjaro and $1.9 billion for Zepbound. In addition to the uptake of Mounjaro and Zepbound, Lilly saw strong performance from its oncology, immunology and neuroscience medicines in Q4 of 2024. In total, non-incretin revenue grew by 20% compared to Q4 2023. However, the company’s expected 2024 revenue is $400 million, or about 3%, below the guidance range issued on October 30, 2024, as part of the Q3 2024 earnings call.
"While the U.S. incretin market grew 45% compared to the same quarter last year, our previous guidance had anticipated even faster acceleration of growth for the quarter. That, in addition to lower-than-expected channel inventory at year-end, contributed to our Q4 results. We continued to make progress on our manufacturing build-out, and U.S. supply across all doses of tirzepatide was available throughout Q4," said David A. Ricks, Lilly chair and CEO. "The rest of our medicines performed within our expectations."
Lilly anticipates revenue growth contributions in 2025 from new Lilly medicines such as Jaypirca, Ebglyss, Omvoh and Kisunla; approvals of new indications for existing Lilly medicines; launches of Mounjaro in additional worldwide markets, as well as potential launches of new medicines such as imlunestrant for metastatic breast cancer. Incretin market and channel dynamics have been factored into the 2025 revenue guidance range.
"2024 was a pivotal and highly successful year for Lilly, and we expect to continue our momentum in 2025 with strong financial and operational performance," continued Ricks. "Sales of Mounjaro and Zepbound posted robust sales growth in Q4, and we expect a continuation of that trend into 2025. We’ll also bring additional manufacturing capacity online and expect to produce at least 60% more salable doses of incretins in the first half of the year compared to the first half of 2024."
As announced previously, Ricks will participate in a fireside chat at the J.P. Morgan Healthcare Conference later today at 5:15 p.m. Eastern time. A live audio webcast of Ricks’ discussion will be available on the "Webcasts & Presentations" section of Lilly’s Investor website at View Source A replay of the presentation will be available on this same website for approximately 30 days.
The company currently plans to share its full Q4 2024 financial results, including with respect to other metrics included in its financial guidance, and 2025 financial guidance on February 6, 2025.
Preliminary Information
The unaudited financial information presented in this press release is preliminary and may change as a result of, among other factors, Lilly’s financial closing procedures and as a result, the company’s final results may vary materially from the preliminary results included in this press release. The preliminary financial information included in this press release reflects the company’s current estimates based on information available as of the date of this press release and has been prepared by company management. This preliminary information should not be viewed as a substitute for full financial information prepared in accordance with GAAP and is not necessarily indicative of the results to be achieved for any future periods. This preliminary information could be impacted by the effects of financial closing procedures, final adjustments, and other developments.