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Eli Lilly and Co | 8-K: Eli Lilly and Co Reports Fourth Quarter 2023 Financial Results and Provides 2024 Financial Guidance

SEC announcement ·  Feb 6 20:06
Summary by Futu AI
Eli Lilly and Company (NYSE: LLY), a global pharmaceutical company, reported a strong financial performance for the fourth quarter of 2023, with a 28% increase in revenue compared to the same period in 2022. The company's revenue for Q4 2023 was $9.35 billion, driven by higher realized prices and volume growth. New Products revenue, led by Mounjaro and Zepbound, grew to $2.49 billion, while Growth Products revenue, led by Verzenio and Jardiance, increased by 9% to $5.27 billion. The company's EPS also saw a significant increase, with reported EPS growing 13% to $2.42 and non-GAAP EPS increasing 19% to $2.49. Eli Lilly provided guidance for 2024, projecting revenue in the range of $40.4 billion to $41.6 billion and EPS between $11.80 and $12.30 on a reported basis, and $12.20 to $12.70 on a non-GAAP basis. The...Show More
Eli Lilly and Company (NYSE: LLY), a global pharmaceutical company, reported a strong financial performance for the fourth quarter of 2023, with a 28% increase in revenue compared to the same period in 2022. The company's revenue for Q4 2023 was $9.35 billion, driven by higher realized prices and volume growth. New Products revenue, led by Mounjaro and Zepbound, grew to $2.49 billion, while Growth Products revenue, led by Verzenio and Jardiance, increased by 9% to $5.27 billion. The company's EPS also saw a significant increase, with reported EPS growing 13% to $2.42 and non-GAAP EPS increasing 19% to $2.49. Eli Lilly provided guidance for 2024, projecting revenue in the range of $40.4 billion to $41.6 billion and EPS between $11.80 and $12.30 on a reported basis, and $12.20 to $12.70 on a non-GAAP basis. The company's financial results were bolstered by FDA approvals of Zepbound for obesity and Jaypirca for chronic lymphocytic leukemia, as well as positive results from a Phase 2 study of tirzepatide in adults with nonalcoholic steatohepatitis (NASH). Additionally, Eli Lilly completed acquisitions of POINT Biopharma Global Inc. and Mablink Biosciences SAS, and announced a 15% annual increase in its quarterly dividend.

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