Eli Lilly (LLY) reported Q4 non-GAAP earnings Tuesday of $2.49 per share, up from $2.09 a year earlier. Analysts polled by Capital IQ expected $2.37. Revenue for the quarter ended Dec. 31 was $9.35 billion, up from $7.30 billion a year earlier. Analysts surveyed by Capital IQ expected $8.97 billion. The company said it expects fiscal 2024 non-GAAP EPS of $12.20 to $12.70 on revenue of $40.4 billion to $41.6 billion. Analysts surveyed by Capital IQ expect normalized EPS of $12.38 and revenue of $39.14 billion. Eli Lilly shares were up more than 4% in Tuesday pre-market activity.

By Peter Loftus Boundless demand for weight-loss and diabetes drugs fueled a sharp rise in Eli Lilly’s sales and profits–and the drugmaker still can’t make enough. Fourth-quarter sales of Lilly’s diabetes drug Mounjaro ( is also used off-label for weight loss–surged to $2.2 billion from $279 million a year earlier. The drug ( is on pace to soon become Lilly’s top-selling product, two years after its introduction. Lilly shares jumped 5% in pre-market trading Tuesday. Late last year Lilly introduced Zepbound ( which has the same ingredients as Mounjaro ( and is approved specifically for chronic weight management. In just a few weeks on the market in the fourth quarter, sales were $175.8 million. Like its rival Novo Nordisk, Eli Lilly is trying to expand its manufacturing capacity for these types of drugs. But Lilly said Tuesday it has experienced intermittent delays fulfilling orders for Mounjaro and an older diabetes

Revenue in Q4 2023 increased 28%. New Products(i) revenue grew by $2.19 billion to $2.49 billion in Q4 2023, led by Mounjaro and Zepbound. Growth Products(ii) revenue increased 9% to $5.27 billion in Q4 2023, led by Verzenio and Jardiance. Pipeline progress included FDA approval of Zepbound for adults with obesity or overweight with weight-related comorbidities and Jaypirca for chronic lymphocytic leukemia or small lymphocytic lymphoma under the Accelerated Approval Program. Additional progress included positive results from SYNERGY-NASH, a Phase 2 study of tirzepatide in adults with nonalcoholic steatohepatitis (NASH), also known as metabolic dysfunction-associated steatohepatitis (MASH). Business development activity included the completed acquisitions of POINT Biopharma Global Inc. and Mablink Biosciences SAS. Q4 2023 EPS increased 13% to $2.42 on a reported basis and increased 19% to $2.49 on a non-GAAP basis, both inclusive of $0.62 of acquired IPR&D charges. 2024 guidance issued with revenue in the range of $40.4 billion to

Eli Lilly Company (NYSE: LLY) ‘s 2024 guidance issued with revenue in the range of $40.4 billion to $41.6 billion, EPS in the range of $11.80 to $12.30 and non-GAAP EPS in the range of $12.20 to $12.70.