2024 Revenues ($USD) : $45.04B
[Image courtesy of Eli Lilly]
Exceptional is a strong word, but when it comes to Eli Lilly's 2024 financial performance, the term is fitting. The company reported a 32% increase in full-year revenue to $45.0 billion, with growth accelerating in the fourth quarter. Q4 saw a 45% surge to $13.5 billion compared to the prior-year period. This top-line expansion was primarily attributed to significant volume growth (+48% in Q4), largely thank to the market uptake of its GLP-1 therapies, Mounjaro and Zepbound (tirzepatide).
Beyond the established GLP-1 franchise, Lilly showcased progress in other key therapeutic areas, though navigating a complex regulatory environment. March 2025 saw the release of promising Phase 2 data for the investigational siRNA therapeutic, lepodisiran. The results demonstrated a sustained reduction (nearly 94%) in lipoprotein(a) levels among adults at high cardiovascular risk, with durability observed for close to 18 months in some participants, signaling potential for a significant impact in cardiovascular risk management down the line.
In the negative column, however, the Committee for Medicinal Products for Human Use (CHMP) issued a negative opinion, recommending against marketing authorization for donanemab in early symptomatic Alzheimer's disease. Despite this notable setback for a key pipeline asset, Lilly reaffirmed its commitment to the challenging Alzheimer's space.
Lilly announced a significant expansion of its U.S. manufacturing footprint in February 2025. The company plans to more than double its domestic investment commitment since 2020 to over $50 billion. This substantial capital allocation includes the construction of four new manufacturing facilities and aims to add approximately 13,000 jobs.