Connect with us


Eli Lilly Earns 16% Less Due to Spending on R&D and Acquisitions

Eli Lilly’s U.S. revenues grew by 39% to 6,188.1 million euros, with international revenues up 10% to 2.7 billion euros. R&D costs rose by 29.5%, while marketing, sales, and administrative costs increased by 15% and 6.8%, respectively. The total expenses, including impairments and restructuring charges, were 25.78 billion euros, up 29.2%.



Eli Lilly

The American laboratory Eli Lilly obtained net profits of 4.88 billion euros in 2023 compared to the profits of 5.82 billion euros recorded in the previous year, 16.1% less due to the increase in disbursements in research and development (R&D) and in acquisitions of other companies, such as Mablink Biosciences or Beam Therapeutics.

Eli Lilly’s sales were 31.8 billion euros, 19.6% more than a year before, driven by sales of Mounjaro , a drug for the treatment of diabetes that could potentially be used to reduce weight, and by Verzenio, a breast cancer drug, and Jardiance, also for diabetes.

Specifically, Mounjaro’s sales skyrocketed to 4.81 billion euros, compared to 449.7 million euros in 2022 . Verzenio did the same up to 3.6 billion euros from 2.31 billion euros and Jardiance, up to 2.56 billion euros from 1.92 billion euros. On the contrary, the billing of the diabetes treatment Trulicity fell to 6.65 billion euros, 4.1% less.

Read more about Eli Lilly and find the most important financial news of the day with our companion app Born2Invest.

Eli Lilly spent 29.5% on R&D compared to 2022 and had extraordinary expenses due to acquisitions

Revenues experienced growth of 39% in the United States, up to 6,188.1 million euros , and 10% internationally, up to 2.7 billion euros.

R&D costs reached 8.68 billion euros, 29.5% more , while marketing, sales and administrative costs and those attributable to sales were 6.9 billion euros and 6.6 billion of euros, respectively. These figures were 15% and 6.8% higher than those recorded twelve months ago.

The sum of these headings, plus impairments and restructuring charges, amounted to 25.78 billion euros, 29.2% more. Likewise, Eli Lilly has reported that it incurred extraordinary acquisition expenses of 3.54 billion euros for the purchase of companies such as Mablink Biosciences or Beam Therapeutics, among others.

As for the fourth quarter, Eli Lilly’s profit increased by 13%, to 2.04 billion euros, and income increased to 8.71 billion euros, 28.1% more.

Eli Lilly has placed its income forecast for 2024 in a range of between 37.65 billion and 38.77 billion euros due to the commercialization of new drugs that will be only partially compensated by the decline of Trulicity.


(Featured image by Ousa Chea via Unsplash)

DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.

This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.

First published in PlantaDoce. A third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us

Eva Wesley is an experienced journalist, market trader, and financial executive. Driven by excellence and a passion to connect with people, she takes pride in writing think pieces that help people decide what to do with their investments. A blockchain enthusiast, she also engages in cryptocurrency trading. Her latest travels have also opened her eyes to other exciting markets, such as aerospace, cannabis, healthcare, and telcos.