🎙️ Eli Lilly Q1 2025 – $12.7B Surge, Obesity Wars, and the Future of Oral GLP-1s 💊📈

Eli Lilly and Company (NYSE:LLY) Q1 2025 Release May 1,2025

Source : Company Earning Deck and Webcast

🧬 Eli Lilly Q1 2025 – $12.7B Surge, Obesity Wars, and the Future of Oral GLP-1s
🎧 Podcast by Men’s Hobby – Know What You Are Investing

In this episode, we break down Eli Lilly’s blockbuster Q1 2025 earnings call and the company’s bold strategy to dominate the obesity and diabetes drug market. With $12.7 billion in quarterly revenue and market-shaking launches like Zepbound and Mounjaro, Lilly is reshaping the future of pharma—and here’s how.

• 💵 Revenue: $12.73B (+45% YoY) — beat expectations

• 💹 EPS (Non-GAAP): $3.34 (vs. $3.46 consensus)

• 💥 EPS (Reported): $3.06 (up 23% YoY)

• 📈 Operating Income (Non-GAAP): $3.85B (+46%)

• 💲 Dividend: $1.50 per share

• 📉 Gross Margin: 83.5% (non-GAAP)

• 🧬 Mounjaro (Tirzepatide):

  • Revenue: $3.84B (+113% YoY)

  • U.S. market share: 39% TRx, 46% NBRx

• ⚖️ Zepbound:

  • Revenue: $2.31B

  • TRx SOM: 60%+ | NBRx SOM: 74%

  • Now available in single-dose vials via LillyDirect

• 💊 Verzenio: $1.16B (+10%)

• 🧠 Jaypirca, Omvoh, Ebglyss, Kisunla: New launches expanding across oncology, Crohn’s, and Alzheimer’s

💡 R&D Spend: $2.7B in Q1
🚀 Key Developments:

• Orforglipron (Oral GLP-1): Positive Phase 3 for diabetes; Obesity submission expected Q4 2025

• Retatrutide (Triple Agonist): Ongoing Phase 3 trials for obesity, diabetes & CV outcomes

• Donanemab: Advancing for early Alzheimer’s (TRAILBLAZER-ALZ 2/3)

• Olomorasib: New Phase 3 in KRAS G12C mutant lung cancer

• Early-Phase Pipeline: Includes 20+ novel targets across cancer, immunology, cardiometabolic, neuro, pain

📊 Lilly aims to lead across injectable + oral obesity therapies, Alzheimer’s, and KRAS+ oncology with a rich next-gen portfolio.

• 🇺🇸 U.S. Revenue: +49% (volume-driven, price decline -7%)

• 🌍 International Growth:

  • Europe: +66%

  • China: +20%

  • Japan: +11%

  • ROW: +12% (offset by FX)

• 🏥 PBM Dynamics: CVS favors Wegovy, but Lilly says Zepbound still dominant in many plans

• 💳 Self-Pay Boom: $200M+ Q1 revenue via LillyDirect

  • 25% of Zepbound NBRx initiated via self-pay

  • Vials sold directly via cash-pay channel

• 🛍️ LillyDirect: Expanding offerings to reduce patient friction

• 💬 "Very disciplined approach" to pricing, especially for orforglipron

• 🇺🇸 Supports domestic investment but opposes tariffs as a mechanism

• 🛠️ Engaging on Section 232 for supply chain repatriation

• 🏛️ Actively lobbying to fix IRA’s impact on small molecules

• 📉 No material 2025 forecast impact yet from tariffs, but escalating trade actions would hurt

• Regulatory uncertainties

• Generic competition

• PBM access constraints

• Clinical trial timelines

• Price pressure from public policy

• Pipeline