By Fineline Cube 
US-based Eli Lilly & Co. (NYSE: LLY) released its Q1 2025 financial report, revealing sales growth of 45% year-on-year (YOY) in constant currency terms to USD 12.73 billion. This growth was driven by a 53% increase in volume, partially offset by a 6% decrease due to lower realized prices and a 2% unfavorable impact of foreign exchange rates. Core product revenues stood at USD 7.52 billion after a 119% expansion, driven by Zepbound and Mounjaro. Net profit rose 23% YOY to USD 2.73 billion, representing 21.5% of total revenue, reflecting continued investment in early- and late-stage R&D pipelines.
US Revenue Performance
Revenue in the US increased 49% to USD 8.49 billion, with 46% volume growth led by Mounjaro and, to a lesser extent, Jardiance. The Jardiance growth included a USD 370 million one-time gain from an amended collaboration agreement with Boehringer Ingelheim, which adjusted commercialization responsibilities in select markets.
Mounjaro Revenue
During Q1, worldwide Mounjaro revenue increased 113% to USD 3.84 billion. US revenue was USD 2.66 billion, an increase of 75%, reflecting continued strong demand, partially offset by lower realized prices. Revenue outside the US increased to USD 1.19 billion compared with USD 286.2 million in Q1 2024, primarily driven by volume growth, including entry into new markets, partially offset by lower realized prices.
Zepbound and Verzenio Revenue
For Q1 2025, US Zepbound revenue was USD 2.31 billion, compared with USD 517.4 million in Q1 2024, primarily driven by increased demand, partially offset by lower realized prices. For Q1 2025, worldwide Verzenio revenue increased 10% to USD 1.16 billion. US revenue was USD 657.6 million, an increase of 3%, driven by higher realized prices. Increased demand was more than offset by wholesaler buying patterns and competitive dynamics. Revenue outside the US was USD 501.3 million, an increase of 22%, primarily driven by volume growth, partially offset by the unfavorable impact of foreign exchange rates.-Fineline Info & Tech