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Eli Lilly and Company
Eli Lilly and Company (LLY) investor relations material
Eli Lilly and Company Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary4 Feb, 2026
Executive summary
Achieved 45% year-over-year revenue growth in 2025, reaching $65.2 billion, with strong contributions from key products and new launches, including Mounjaro and Zepbound.
Expanded manufacturing capacity, completed major international rollouts, and helped over 70 million patients globally.
Advanced R&D pipeline with over 25 positive phase III trials, 14 new phase III programs initiated, and multiple regulatory milestones including FDA approvals and expanded indications.
Executed 39 business development transactions, including acquisitions of Ventyx Biosciences and Adverum, and expanded AI collaborations with NVIDIA.
Distributed $1.3 billion in dividends and $1.5 billion in share repurchases.
Financial highlights
Full-year revenue grew 45% to $65.2 billion; Q4 revenue up 43% year-over-year to $19.3 billion.
Earnings per share increased 86% to $24.21 for the year; Q4 EPS was $7.54 (non-GAAP), up 42% year-over-year.
Gross margin was 83.2% in Q4, consistent with prior year.
Non-GAAP performance margin rose to 47.2% in Q4, up 4.2 percentage points.
Net income for Q4 was $6.8 billion, up 41% year-over-year.
Outlook and guidance
2026 revenue guidance set at $80–$83 billion, a 25% increase at midpoint.
Non-GAAP performance margin expected between 46% and 47.5%.
EPS guidance for 2026 is $33.50–$35.00.
Anticipates industry-leading volume growth, offset by low to mid-teens price erosion.
Orforglipron U.S. launch expected in Q2 2026; international launches mainly in 2027.
Reason for lower realized prices on key products?
Orforglipron's strategic role in oral GLP-1?
Manufacturing expansion to meet demand?
Mitigate 2026 global pricing declines
New manufacturing impact on supply?
Top 2-3 pipeline strategic bets?
Orforglipron's market expansion strategy
Accelerate immunology R&D investment
Medicare obesity access: insulin pilot parallels
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Next Eli Lilly and Company earnings date
Q1 202630 Apr, 2026
Eli Lilly and Company
Next Eli Lilly and Company earnings date
Q1 202630 Apr, 2026
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Frequently asked questions
Pharmaceutical Giant
Eli Lilly and Company, often referred to simply as Eli Lilly, is a global pharmaceutical corporation established in 1876. Headquartered in Indianapolis, the company specializes in the research, development, manufacture, and distribution of pharmaceutical products to address a wide range of health conditions. Throughout its history, Eli Lilly has introduced several notable medications and therapies to the market, but today they’re mainly known for their antidepressants and its main revenue driver, insulin. Their portfolio encompasses treatments for diabetes, oncology, neurodegenerative diseases, and other therapeutic areas.
Founded by Colonel Lilly
Colonel Eli Lilly, a Civil War veteran, founded his pharmaceutical venture in a small brick establishment in Indianapolis in 1876, during an era when the industry was riddled with dubious patent medicine sellers. By 1890, his son J.K. Lilly, Sr. took the helm of the expanding company, later joined by his own sons. Their collective leadership ushered in modern production techniques and research practices, revolutionizing the way pharmaceuticals were manufactured. The Lilly family retained private ownership until 1952 before going public. In partnership with University of Toronto scientists, they spearheaded the mass production of insulin in 1923. Their ventures in the mid-20th century included producing crucial antibiotics and 68% of the U.S. supply of the Salk polio vaccine by 1956, contributing significantly to the decline of polio cases in the 1960s.
Diabetes Experts
Eli Lilly manufactures a multitude of drugs, but a large part of their revenue is driven by the diabetes medications Trulicity and Humalog. Eli Lilly has, as previously mentioned, played a key role in the development of various medications for diabetes. Trulicity (dulaglutide) is an injectable medication used to treat type 2 diabetes. It mimics the actions of the body's natural incretin hormone, helping stimulate insulin release in response to increased blood sugar levels, thereby aiding in glycemic control. Humalog is a fast-acting insulin analog designed to help control blood sugar levels in individuals with both type 1 and type 2 diabetes, taken just before or after meals. The company also produces various medications for mental health issues, cancer, oncology, and more.
Global Player
Eli Lilly's presence is global, distributing its portfolio of medications across multiple continents. Their global strategy revolves around creating strong partnerships with distributors, healthcare systems, and local authorities. Eli Lilly is one of the most influential pharmaceutical companies in the world together with names like Pfizer, Novartis, AbbVie, and several others.
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