LLY - Investors Cheer Highly Awaited Eli Lilly Earnings Q4 Performance Surpass Expectations Thanks To Strong Zepbound Launch Surging Weight loss Drug Sales | Benzinga
Tuesday, Eli Lilly And Co (NYSE:LLY) reported fourth-quarter of 2023 revenue of $9.35 billion, up 28% Y/Y, beating the consensus of $8.93 billion driven by increases of 16% due to higher realized prices, 11% in volume, and 1% from the favorable impact of foreign exchange rates.
Higher realized prices were driven by the diabetes drug Mounjaro in the U.S., partially offset by lower realized prices for Humalog and Trulicity.
New Products revenue grew by $2.19 billion to $2.49 billion in the quarter, led by Mounjaro and Zepbound. Growth Products revenue increased 9% to $5.27 billion, led by Verzenio and Jardiance.