Lilly reports full Q4 2024 financial results and provides 2025 guidance

Core Insights - Eli Lilly and Company reported a highly successful year in 2024, with significant revenue growth and strategic investments aimed at long-term growth [3][4][5] Financial Results - In Q4 2024, Eli Lilly's worldwide revenue reached $13.53 billion, a 45$4.41 billion, a 101% increase compared to $2.19 billion in Q4 2023, with earnings per share (EPS) rising 102$4.88 [4][15] - Non-GAAP net income for Q4 2024 was $4.81 billion, a 114$2.25 billion in Q4 2023, with non-GAAP EPS increasing to $5.32 [18][19] Revenue Breakdown - New Products revenue grew by$3.15 billion to $5.64 billion in Q4 2024, led by Zepbound and Mounjaro [5][6] - Growth Products revenue increased 13$5.95 billion, driven by Verzenio and Jardiance, despite lower sales of Trulicity [5][6] - Mounjaro revenue increased 60% to $3.53 billion, with U.S. revenue at$2.63 billion, reflecting strong demand [20][21] - Zepbound, launched in November 2023, generated $1.91 billion in U.S. revenue for Q4 2024, compared to$175.8 million in Q4 2023 [24] Cost and Expenses - Gross margin for Q4 2024 increased 47% to $11.13 billion, with a gross margin percentage of 82.2$3.02 billion, representing 22.3% of revenue, reflecting continued investment in the company's portfolio [11][12] - Marketing, selling, and administrative expenses increased 26% to $2.42 billion, driven by promotional efforts [12] 2025 Financial Guidance - Eli Lilly anticipates 2025 revenue between$58.0 billion and $61.0 billion, representing approximately 32$22.05 to $23.55 on a reported basis and$22.50 to $24.00 on a non-GAAP basis [31][33] - The company plans to continue investing in manufacturing capacity, estimating to produce at least 1.6 times the amount of salable incretin doses in the first half of 2025 compared to the first half of 2024 [29]