Q3 2025 Eli Lilly and Co Earnings Call Transcript
Key Points
- Eli Lilly and Co (LLY) reported a 54% increase in revenue compared to the same period last year, driven by strong performance of key products.
- The company raised its revenue and earnings per share guidance due to strong financial performance.
- Eli Lilly and Co (LLY) achieved several key milestones, including US FDA approval for imlunestrant and EU approval for Kisunla.
- Positive results from multiple Phase 3 trials, including those for orforglipron in obesity and type 2 diabetes, were reported.
- The company announced plans to expand its manufacturing footprint with new facilities in the US and Puerto Rico.
- Research and development expenses increased by 27%, driven by continued investments in the portfolio.
- Marketing, selling, and administrative expenses rose by 31% as the company increased investment to support ongoing and future launches.
- US revenue growth was partially offset by a 15% decline in price, impacted by a favorable one-time adjustment in Q3 2024.
- While obesity reimbursement remains limited internationally, the company is encouraged by strong uptake, indicating potential challenges in achieving broader coverage.
- The impact of the CVS template formulary change was disruptive to patients and physicians, affecting Zepbound's performance.
Ladies and gentlemen, thank you for standing by, and welcome to the Lilly Q3 2025 earnings conference call. (Operator Instructions)
I would now like to turn the conference over to your host, Mike Czapar, Senior Vice President of Investor Relations. Please go ahead.
Good morning. Thank you for joining us for Eli Lilly company's Q3 2025 earnings call. I'm Mike Czapar, Senior Vice President of Investor Relations. Joining me on today's call are Dave Ricks, Lilly's Chair and CEO; Lucas Montarce, Chief Financial Officer; Dr. Dan Skovronsky, Chief Scientific Officer and President of Lilly Immunology; Anne White, President of Lilly Neuroscience; Ilya Yuffa, President of Lilly USA and Global Customer Capabilities; Jake Van Naarden, President of Lilly Oncology; Patrik Jonsson, President of Lilly International; and Ken Custer, President of Lilly Cardiometabolic Health. We're also joined by Marc Kemen, Susan Hedglin and Wes Taul, of the Investor Relations team.
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