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Eli Lilly Reports Strong Q1 Growth but Cuts Profit Forecast Over Acquisition Costs

The pharmaceutical giant posted a 45% revenue increase driven by diabetes and weight-loss drugs but lowered earnings guidance due to a $1.57 billion charge tied to a cancer drug acquisition.

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Dec 28, 2024; Foxborough, Massachusetts, USA; New England Patriots quarterback Drake Maye (10) looks to pass the ball against the Los Angeles Chargers in the second half at Gillette Stadium.
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FILE PHOTO: The logo of Lilly is seen on a wall of the Lilly France company unit, part of the Eli Lilly and Co drugmaker group, in Fegersheim near Strasbourg, France, February 1, 2018. Picture taken February 1, 2018. REUTERS/Vincent Kessler/File photo

Overview

  • Eli Lilly's Q1 revenue surged 45% year-over-year to $12.73 billion, exceeding Wall Street expectations.
  • Sales of diabetes drug Mounjaro and weight-loss drug Zepbound reached $3.84 billion and $2.31 billion, respectively, driving U.S. revenue up by 49%.
  • The company revised its full-year adjusted earnings forecast downward to $20.78–$22.28 per share, citing a $1.57 billion charge from acquiring a Scorpion Therapeutics cancer drug.
  • Eli Lilly maintained its 2025 sales guidance of $58 billion to $61 billion, reflecting confidence in ongoing product demand.
  • Shares fell 5% in premarket trading as investors reacted to the profit outlook cut despite robust Q1 results.