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Mounjaro Drives 3Q Revenue Growth for Lilly

Earnings impacted by IPR&D charges of $2.98 billion and sale of rights for the olanzapine portfolio.

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By: Kristin Brooks

Managing Editor, Contract Pharma

Lilly
3Q Revenues: $9.5 billion (+37%)
3Q Loss: $57.4 million (earnings were $1.5 billion 3Q22)
YTD Revenues: $24.8 billion (+17%)
YTD Earnings: $3.1 billion (-29%) 
Comments: Growth in the quarter driven by Mounjaro with sales of $1.4 billion, Verzenio, up 68% to $1.0 billion, and Jardiance, up 22% to $700.8 million, as well as $1.4 billion from the sale of rights for the olanzapine portfolio (Zyprexa). Taltz sales were up 9% to $744.2 million. Humalog sales were down 12% to $395.4 million driven by lower realized prices. Olumiant sales were 231.4 million, up 27% in the quarter. COVID-19 Antibodies sales were down 100% compared to $386.6 million 3Q22. COVID-19 antibodies include sales for bamlanivimab administered alone, for bamlanivimab and etesevimab administered together.
 
R&D expenses increased 34% to $2.4 billion in the quarter. Pipeline progress included FDA approvals of Omvoh for the treatment of adults with moderately to severely active ulcerative colitis and an expanded indication for Jardiance in adults with chronic kidney disease, and positive results in the mirikizumab Phase 3 VIVID-1 study, which evaluated safety and efficacy for the treatment of adults with moderately to severely active Crohn’s disease.
 
In the quarter, the company completed acquisitions of DICE Therapeutics, Inc., Versanis Bio, Inc., Emergence Therapeutics AG and Sigilon Therapeutics, Inc., and recognized acquired in-process research and development (IPR&D) charges of $2.98 billion.

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