Eli Lilly Reports Mixed Q4 Results as Weight Loss Drug Sales Soar

SAN DIEGO, Calif. — Eli Lilly reported mixed financial results for the fourth quarter of 2024 on Thursday, with soaring sales of its blockbuster weight loss drug Zepbound and diabetes treatment Mounjaro offset by lower realized prices. The pharmaceutical giant’s earnings surpassed Wall Street expectations, but revenue fell slightly short of estimates.

The company posted $13.53 billion in revenue for the quarter, a 45% increase compared to the same period last year. Net income reached $4.41 billion, or $4.88 per share, more than double the $2.19 billion, or $2.42 per share, reported in the fourth quarter of 2023. Adjusted earnings, excluding one-time items, stood at $5.32 per share.

Eli Lilly reiterated its fiscal 2025 sales guidance of $58 billion to $61 billion and issued profit guidance of $22.05 to $23.55 per share, aligning with analyst expectations. However, the company acknowledged that demand for its weight loss and diabetes drugs may not meet its initial lofty projections.

The results were consistent with preliminary figures shared in January, which disappointed investors. Despite the strong performance of Zepbound and Mounjaro, lower realized prices weighed on the company’s overall revenue.

Eli Lilly’s weight loss and diabetes treatments have become key drivers of growth, but the company faces challenges in meeting surging demand while maintaining pricing power. The pharmaceutical industry has seen increased competition in the weight loss drug market, with rivals also vying for market share.

As the company navigates these challenges, investors will closely monitor its ability to scale production and maintain its competitive edge in the rapidly evolving market for weight loss and diabetes treatments.