Indianapolis, IN – Eli Lilly’s quarterly results have just been released, marking the first time that the company’s sales of Zepbound have been included in the report. Analysts are predicting that Zepbound could generate over a billion dollars in sales in its first year on the market, potentially becoming the biggest drug of all time.
The fourth-quarter results for Eli Lilly have exceeded Wall Street’s expectations. Earnings per share came in at $2.49 adjusted, compared to the expected $2.22, while revenue reached $9.35 billion, surpassing the expected $8.93 billion. The company’s net income for the quarter was $2.19 billion, or $2.42 a share, reflecting a significant increase from the previous year.
One of the driving factors behind the increase in revenue was the higher prices for older drugs, particularly Mounjaro, which saw a substantial increase in sales. Analysts had expected the drug to bring in $1.73 billion in worldwide sales, but it ended up generating $2.21 billion in the fourth quarter. The increased demand and higher realized prices contributed to this surge in sales.
Despite concerns about the high prices of weight loss drugs and mixed insurance coverage, shares of Eli Lilly jumped almost 60% in the previous year. With a market cap of roughly $673 billion, Eli Lilly is currently the largest pharmaceutical company based in the U.S.
Investors are eagerly awaiting Eli Lilly’s earnings call, where executives are likely to address supply issues with their weight loss and diabetes drugs, as well as the FDA’s decision on the company’s experimental Alzheimer’s drug, donanemab, which has shown promise in slowing the progression of the disease. This breaking news will continue to unfold, and updates are expected.