Lilly 2024Q3: tirzepatide sold $11 billion in the first three quarters

On October 30, 2024, Eli Lilly announced its Q3 financial report, with revenue of $31.5 billion in the first three quarters, a year-on-year increase of 27%. The third quarter revenue was 11.44 billion US dollars, a year-on-year increase of 20%, but lower than the market expectation of 12.18 billion US dollars.

Mounjaro (tirzepatide, type 2 diabetes) and Zepbound (tirzepatide, weight loss) are the most dazzling stars in Lilly's product lineup, contributing a total of $11 billion in sales revenue in the first three quarters, and the gap with Novo Nordisk Semaglutide gradually narrowed.

Lilly's current growth expectations are mainly focused on weight loss drugs. Analysts predict that with stable supply, the weight loss drug market may reach $150 billion by 2030. Lilly is still continuing to expand its production capacity. On September 12th of this year, the company announced that it had completed the $800 million Kinsale factory expansion project to increase production in Mounjaro and Zepbound. Earlier this month, the FDA officially removed Mounjaro and Zepbound from its drug shortage database.

When the semi annual report was released earlier, Eli Lilly had raised its annual revenue forecast by $3 billion to $45.4-46.6 billion. In its latest third quarter report, Eli Lilly lowered its revenue forecast to a maximum of $46 billion.

About Eli Lilly and Company

Eli Lilly is a globally leading pharmaceutical company engaged in drug research and development, production, and sales, committed to improving human health through innovation. Eli Lilly was founded over a century ago by Colonel Eli Lilly in Indiana, USA in 1876. The company's founder was dedicated to producing high-quality drugs to meet practical medical needs.