Eli Lilly and Company (NYSE: LLY) issued a full-year revenue forecast that significantly exceeded analyst expectations, fueled by continued strong demand for its weight-loss and diabetes treatments, sending shares up more than 8% in premarket trading.
The drugmaker reported fourth-quarter revenue of $19.29 billion, representing a 43% increase year over year and exceeding Bloomberg consensus estimates of $18.01 billion. Growth was driven by strong volume increases in Zepbound and Mounjaro, which generated sales of $4.26 billion and $7.41 billion, respectively, both above Wall Street forecasts.
U.S. volumes expanded 50% during the quarter, helping offset pressure from lower pricing. Revenue in the U.S. rose 43% to $12.9 billion.
Internationally, Mounjaro continued to support volume growth, partially offsetting pressure related to Jardiance, a diabetes drug developed in partnership with Boehringer Ingelheim. International results were impacted by a one-time $300 million benefit tied to changes in the Jardiance collaboration during the quarter.
Chief Executive Officer David Ricks said the company was positioned to reach more patients than ever and expand its global health impact.
Lilly guided for full-year revenue of $80 billion to $83 billion and earnings per share of $33.50 to $35.00.
