Eli Lilly and Company (Lilly) has reported a net income of $2.96bn, or $3.28 per diluted share, for the second quarter ended 30 June 2024, a 68% increase compared to $1.76bn, or $1.95 per diluted share, for the respective quarter in 2023.
The pharmaceutical company’s net income for the second quarter of 2024 (Q2 2024) increased by 32% compared to $2.24bn for the first quarter of 2024 (Q1 2024).
The US drugmaker reported a total revenue of $11.3bn for Q2 2024, a 36% rise compared to $8.31bn for the same quarter in 2023, and a 29% rise compared to $8.76bn for Q1 2024.
Lilly reported an operating income of $3.71bn for Q2 2024, a 75% rise compared to $2.12bn for the respective quarter in the previous year.
The company reported an income before tax of $3.51bn for Q2 2024, a 68% increase compared to $2.08bn for the same period in 2023.
Lilly chair and CEO David Ricks said: “Mounjaro, Zepbound and Verzenio led our strong financial performance in the second quarter as we advanced our manufacturing expansion agenda, and it is equally exciting to see the growth around the world of our medicines for cancer, neurological disorders and autoimmune diseases.
“We also recently received approval of Kisunla to help people with Alzheimer’s disease, a moment that was decades in the making.
“Lilly’s performance and progress in Alzheimer’s, metabolic disorders and many other serious diseases highlight the tenacity, focus and capability of our scientists, clinicians, engineers, customer teams and collaborators.”
Lilly reported a net income of $5.20bn, or $5.76 per diluted share, for the six months ended 30 June 2024, a 68% rise compared to $3.10bn, or $3.44 per diluted share for the respective period in 2023.
The US drugmaker reported a total revenue of $20.07bn for the first half of 2024 (H1 2024), a 31% increase compared to $15.27bn for the same period in 2023.
Lilly reported an operating income of $6.22bn for H1 2024, a 72% rise compared to $3.61bn for the same period in the previous year.
The pharmaceutical company reported an income before tax of $6.05bn for H1 2024, a 67% increase compared to $3.61bn for the respective period in 2023.
Last month, Lilly agreed to acquire Morphic Holding, a biopharmaceutical company developing oral integrin therapies for serious chronic diseases, for $3.2bn in cash.
