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LLY NYSE· Eli Lilly and Company
Earnings report Q4 2023

Eli Lilly and Company Reports Strong Revenue Growth in Latest Quarter

Segments of revenue

Eli Lilly and Company (LLY) reported total revenue of $34.12 billion for the year ended December 31, 2023, representing a 20% increase compared to the previous year. Revenue from the U.S. market amounted to $21.79 billion, reflecting a 20% growth, while revenue from outside the U.S. reached $12.33 billion, indicating a 19% increase.

Strengths

The strong revenue growth in the latest quarter can be attributed to several factors. Firstly, increased volume contributed to the growth, driven by the sales of key products such as Mounjaro, Verzenio, Jardiance, Trulicity, Taltz, and Zepbound. Additionally, higher realized prices also played a role in boosting revenue. Furthermore, the company benefited from the sales of the rights for the olanzapine portfolio, including Zyprexa, and for Baqsimi. Management's focus on expanding the product portfolio and effectively pricing their offerings has proven successful in driving revenue growth.

Challenges

Despite the overall positive performance, there were some challenges faced by Eli Lilly and Company. The absence of revenue from COVID-19 antibodies impacted the revenue growth. Additionally, lower sales of Alimta following the entry of multiple generics in the first half of 2022 also contributed to the challenges faced by the company.

Noteworthy

It is worth noting that Eli Lilly and Company experienced a significant increase in revenue, driven by both volume and price. The company's late-stage pipeline developments, including the successful sales of key products and the rights for certain portfolios, have positively impacted their financial performance.

Summary

Eli Lilly and Company delivered strong revenue growth in the latest quarter, with total revenue reaching $34.12 billion, representing a 20% increase compared to the previous year. The company's focus on expanding its product portfolio, effective pricing strategies, and successful sales of key products and rights for certain portfolios have contributed to this growth. However, challenges such as the absence of revenue from COVID-19 antibodies and lower sales of Alimta have impacted the overall performance. Overall, Eli Lilly and Company's latest financial results demonstrate their ability to drive revenue growth through strategic initiatives and a strong product portfolio.

Source documents

Form 10-K  filed on Feb 21, 2024
122 pages scanned

Reference data

Company financials Q4 revenue 9.35B
Analyst estimates Q4 EPS missed by -2,130.17%
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