LLY - Eli Lilly and Co (LLY) Q4 2023 Earnings Conference Call Transcript
2024-02-06 16:47:04 ET
Eli Lilly and Co (LLY)
Q4 2024 Earnings Conference Call
February 06, 2024, 10:00 AM ET
Company Participants
Joe Fletcher - SVP, IR
David Ricks - Chairman, CEO & President
Anat Ashkenazi - EVP & CFO
Daniel Skovronsky - Chief Scientific Officer and President of Lilly Immunology
Ilya Yuffa - EVP of Eli Lilly and Company and President of Lilly International
Patrik Jonsson - President of Lilly Diabetes and obesity and Lilly U.S.A
Conference Call Participants
Terence Flynn - Morgan Stanley
Christopher Schott - JPMorgan Chase & Co.
Seamus Fernandez - Guggenheim
Umer Raffat - Evercore ISI
Timothy Anderson - Wolfe Research
Mohit Bansal - Wells Fargo Securities
Louise Chen - Cantor Fitzgerald & Co.
Kerry Holford - Berenberg
Geoff Meacham - Bank of America Merrill Lynch
David Risinger - Leerink Partners
Evan Seigerman - BMO Capital Markets
Stephen Scala - TD Cowen
Chris Shibutani - Goldman Sachs Group
Akash Tewari - Jefferies
Trung Huynh - UBS
Carter Gould - Barclays Bank
James Shin - Deutsche Bank
Rajesh Kumar - HSBC
Andrew Baum - Citi
Presentation
Operator
Ladies and gentlemen, thank you for standing by, and welcome to the Lilly Q4 2023 Earnings Call. At this time all participants are in a listen-only mode. Later, we will be conducting a question-and-answer session and instructions will be given at that time. [Operator Instructions].
I would now like to turn the conference over to your host, Joe Fletcher, Senior Vice President of Investor Relations. Please go ahead.
Joe Fletcher
Good morning and thank you, Paul. Thanks for joining us for Eli Lilly and Company's Q4 2023 earnings and 2024 guidance call. I'm Joe Fletcher, Senior Vice President of Investor Relations. And joining me on today's call are Dave Ricks, Lilly's Chair and CEO; Anat Ashkenazi, Chief Financial Officer; Dr. Dan Skovronsky, Chief Scientific Officer and President of Lilly Immunology, Anne White, President of Lilly Neuroscience; Ilya Yuffa, President of Lilly International; Jake Van Naarden, President of Loxo at Lilly; Patrik Jonsson, President of Lilly Diabetes and obesity and Lilly U.S.A. We're also joined by Michaela Irons, Mike Springnether and Lauren Zierki of the IR team.
During this conference call, we anticipate making projections and forward-looking statements based on our current expectations. Actual results could differ materially due to several factors, including those listed on Slide 3. Additional information concerning factors that could cause actual results to differ materially is contained in our latest Form 10-K and subsequent Forms 10-Q and 8-K filed with the Securities and Exchange Commission.
The information we provide about our products and pipeline is for the benefit of the investment community. It's not intended to be promotional and is not sufficient for prescribing decisions.
As we transition to our prepared remarks, please note that our commentary will focus on non-GAAP financial measures.
Now I'll turn over the call to Dave.
David Ricks
All right, thanks, Joe. 2023 was a year of advancement across our company. We grew our top-line. We progressed our pipeline. It advanced our external innovation agenda through partnerships and collaborations. We continue to invest in quality, the reliability and the resilience of our company's manufacturing infrastructure, and most importantly, delivered new life-saving and life-changing medicines to more patients.
In 2023, revenue grew 20% for the full year and 28% for the most recent quarter, as our newly launched portfolio continued to gain momentum. This past year, we announced positive Phase IIIs for Donanemab, Tirzepatide, Mirikizumab And Pertibrutinib. We also announced a positive Phase II result for Orforglipron as well as Retatrutide and moved these two important molecules into Phase III.
In terms of external innovation, in 2023, we continued to complement our pipeline through acquisitions and collaborations. These transactions included the acquisition of DICE Therapeutics, POINT Biopharma, Versanis Bio, Emergence Therapeutics, Mablink Biosciences, Immunotrac as well as Sigilon Therapeutics. We have several significant investments in manufacturing, including plans to expand capacity at the company's Research Triangle Park facility and the two manufacturing sites within the LEAP Innovation Park in Boone County, Indiana....
Eli Lilly and Co (LLY) Q4 2023 Earnings Conference Call Transcript