Eli Lilly and Company reported significant financial growth in its latest quarterly results, with total revenue reaching $15.56 billion for the three months ended June 30, 2025, a 38% increase from $11.30 billion in the same period last year. For the first half of 2025, revenue totaled $28.29 billion, up 41% from $20.07 billion in the prior year. The company's net income also saw a substantial rise, climbing 91% to $5.66 billion for the second quarter, compared to $2.97 billion in 2024. Earnings per share (EPS) increased to $6.29, a 92% jump from $3.28 in the previous year.
The growth in revenue was primarily driven by increased sales volumes, particularly from the company's cardiometabolic products, including Mounjaro and Zepbound. Mounjaro's revenue surged by 68% year-over-year, while Zepbound's revenue increased by 172%. However, this growth was partially offset by lower realized prices. The company also reported a gross margin of 84.3% for the second quarter, up from 80.8% in the prior year, attributed to improved production costs and a favorable product mix.
In terms of strategic developments, Eli Lilly made notable acquisitions, including the purchase of Scorpion Therapeutics' PI3Kα inhibitor program for $1.86 billion, which contributed to increased acquired in-process research and development (IPR&D) charges. Additionally, in July 2025, the company announced the acquisition of Verve Therapeutics for approximately $1 billion, along with SiteOne Therapeutics, which could cost up to $1 billion based on future milestones. These acquisitions are part of Lilly's strategy to enhance its product pipeline and expand its capabilities in genetic medicines and pain management.
Operationally, Eli Lilly's total assets increased to $100.92 billion as of June 30, 2025, compared to $78.71 billion at the end of 2024. The company reported a total debt of $39.90 billion, reflecting an increase due to new debt issuances to fund acquisitions. The company also maintained a strong cash position, with cash and cash equivalents rising to $3.38 billion. Looking ahead, Eli Lilly anticipates continued growth driven by its expanding product portfolio and ongoing investments in research and development, despite potential challenges from regulatory changes and pricing pressures in the pharmaceutical industry.
About ELI LILLY & Co
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