Eli Lilly's Q2 Performance Exceeds Expectations and Outlook Improves
Thursday, 8 August 2024, 12:25
Eli Lilly's Strong Q2 Earnings
On Thursday, Eli Lilly And Co (NYSE:LLY) reported its second-quarter results, showcasing a remarkable performance.
Financial Highlights
- Q2 revenue reached $11.3 billion, up 36% from the previous year.
- This revenue significantly exceeded the consensus estimate of $9.95 billion.
- The revenue growth was driven by a 27% increase in volume and a 10% increase from higher realized prices.
Key Drivers of Growth
- Strong sales from Mounjaro, Zepbound, Verzenio, Taltz, and Jardiance.
- Offset by the sale of rights for Baqsimi and a decrease in Trulicity sales.
Outlook
In its earnings release, Eli Lilly raised its outlook, indicating ongoing strength in its pipeline of diabetes and weight loss drugs. This positive surge evidences a robust demand and sets up a strong foundation for future growth.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.