Eli Lilly net worth has shown remarkable growth in 2024. As one of the most influential pharmaceutical companies, its financial performance has caught the attention of investors and the public alike.
At Ando Money, we delve into the details to provide an insightful analysis of Eli Lilly’s market valuation and the main factors driving its impressive revenue.
Quick Facts
| FACT | DETAIL |
|---|---|
| Name | Eli Lilly and Company |
| Full Name | Eli Lilly and Company |
| Website | lilly.com |
| Industry | Pharmaceuticals |
| Traded as | NYSE: LLY |
| ISIN | N/A |
| Founded | 1876 |
| Founders | Colonel Eli Lilly |
| Country/Territory | United States |
| Headquarters | Indianapolis, Indiana, USA |
| Chief Executive Officer | David A. Ricks |
| Number of Employees | N/A |
| Market Cap | $798.82 billion |
| Total Assets | $64.01 billion (2023) |
| Total Equity | $10.77 billion (2023) |
| Revenue (Q2 2024) | $11.30 billion |
| Net Income (Q2 2024) | $2.97 billion |
What is the Net Worth/Market Cap of Eli Lilly in 2024?
Eli Lilly’s market cap is estimated at $798.82 billion as of October 2024, making it one of the largest pharmaceutical companies globally.
This valuation places the company among the most valuable in the world. To give some perspective, here are some related companies that are either competitors, partners, or significant players in the pharmaceutical sector:
To explore how Eli Lilly compares to other top companies, check out the wealthiest corporations on our website here.
Eli Lilly Financial Performance Overview
Key Revenue Drivers and Growth Trends
In 2024, Eli Lilly experienced a strong performance with revenue reaching $11.30 billion in Q2, a 36% increase compared to Q2 2023. The revenue was primarily driven by the success of products like Mounjaro, Zepbound, and Verzenio.
Excluding the sale of rights for Baqsimi in Q2 2023, the growth in revenue becomes even more significant at 46%.
Mounjaro contributed $3.09 billion to revenue, showing its impact on the company’s financial success. This growth highlights how new and effective treatments in diabetes and obesity have greatly improved sales.
U.S. Market Revenue and Performance Insights
The U.S. market has been a significant contributor to Eli Lilly’s revenue. In Q2 2024, U.S. revenue saw a 42% increase to $7.84 billion.
Key products driving this growth included Zepbound, Mounjaro, and Verzenio. Improved supply chain dynamics, increased volume, and price increases were the main contributors to these results.
The launch of Zepbound in the U.S., particularly targeting obesity and weight-related comorbidities, further fueled this surge, with sales reflecting strong demand.
Global Market Expansion and Revenue Contributions
Eli Lilly also recorded a substantial growth in its global markets. Revenue outside the U.S. reached $3.47 billion, an increase of 25%.
This was attributed to the launch of Mounjaro KwikPen across various international markets, which greatly boosted volume and sales.
The company’s strategy to target both established and emerging markets continues to strengthen its position worldwide.
Profit Margins and Earnings Analysis
The gross margin for Q2 2024 increased by 40%, reaching $9.13 billion, which corresponds to 80.8% of revenue. The margin was influenced by favorable product mix and price adjustments.
On a non-GAAP basis, the gross margin improved to 82%.
The Earnings Per Share (EPS) also demonstrated growth, with a reported EPS of $3.28 and a non-GAAP EPS of $3.92. This highlights Eli Lilly’s effective cost management and ability to leverage high-margin products.
Product Portfolio Performance and Financial Impact
Eli Lilly has a diversified product portfolio. Incretin and non-incretin revenues showed robust growth, reflecting the company’s adaptability in meeting market demand.
New products, including Mounjaro, Zepbound, Ebglyss, and Jaypirca, significantly impacted overall revenue, contributing approximately $4.46 billion in Q2 2024.
The company’s growth products such as Verzenio, Taltz, and Jardiance also played an essential role, bringing in $5.05 billion in revenue. Together, these products show a well-balanced and strategically growing portfolio.
R&D Investments and Their Role in Financial Strategy
Eli Lilly has prioritized investments in Research and Development (R&D), with an increase of 15% to $2.71 billion in Q2 2024, representing 24% of total revenue.
These funds are primarily directed towards advancing clinical trials, developing new products, and expanding manufacturing capabilities, which are key for sustaining long-term growth.
Significant progress in its pipeline included the approval of Kisunla for Alzheimer’s disease and Jaypirca for mantle cell lymphoma, which are expected to contribute to future financial performance.
Marketing and Administrative Costs
Marketing, selling, and administrative costs rose by 10% to $2.12 billion. These investments are focused on supporting new product launches and expansion into global markets.
As the company continues to introduce innovative therapies, spending on marketing and operations is carefully balanced to maintain profitability.
Earnings and Taxation Overview
Net income in Q2 2024 was $2.97 billion, with an effective tax rate of 15.6%. On a non-GAAP basis, the net income was $3.54 billion.
This strong financial performance reflects both the company’s operational efficiencies and growth in high-demand products.
FAQs about Eli Lilly
What were Eli Lilly’s key products driving revenue growth in 2024?
The main products contributing to revenue growth were Mounjaro, Zepbound, and Verzenio. Mounjaro alone accounted for $3.09 billion in revenue, showing significant market demand.
What financial guidance did Eli Lilly provide for 2024?
The company increased its full-year revenue guidance by $3 billion to the range of $45.4 billion to $46.6 billion. This change reflects confidence in product performance and an expanding manufacturing capacity.
How did the U.S. market impact its revenue in 2024?
The U.S. market was pivotal, with a 42% revenue increase to $7.84 billion in Q2 2024. Strong demand for Mounjaro, Zepbound, and Verzenio contributed significantly to this growth.
What was the impact of R&D investments on its financial performance?
R&D investments increased by 15% to $2.71 billion. These investments supported product development, clinical trials, and pipeline growth, which are essential for sustained financial performance.
How did its non-GAAP financial measures compare to reported figures?
Non-GAAP measures for Q2 2024 showed a gross margin of 82%, net income of $3.54 billion, and an EPS of $3.92, indicating strong underlying business performance.
Conclusion
Eli Lilly’s financial performance in 2024 showcases its strategic growth and market strength.
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