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