Eli Lilly’s first-quarter financial results highlight resubmission of BLA for lebrikizumab

Key takeaways:

• Eli Lilly reported a worldwide net revenue of $8.77 billion and a 26% increase in its first quarter.
• The company resubmitted its BLA for lebrikizumab for patients aged 12 years and older with atopic dermatitis.

Eli Lilly and Company announced a net revenue increase of 26% in the first quarter of 2024 and the resubmission of its biologic license application for lebrikizumab for the treatment of atopic dermatitis, according to a press release.

Eli Lilly and Company reported a worldwide net revenue of $8.77 billion in the first quarter of 2024, a 26% increase compared to the same quarter last year. Sixteen percent of this increase was driven by higher volume and 10% was due to higher realized prices.

The volume increase was primarily from Eli Lilly’s growth in key products including Mounjaro (tirzepatide), Zepbound (tirzepatide), Verzenio (abemaciclib) and Jardiance (empagliflozin). On the other hand, sales of Trulicity (dulaglutide) declined by 26%.

Similarly, revenue in the U.S. increased 28% to $5.69 billion due to the higher realized prices of Mounjaro specifically.

“Lilly’s first quarter performance reflects solid year-over-year revenue growth with strong sales of Mounjaro and Zepbound,” David A. Ricks, MBA, Lilly’s chair and CEO, said in the release. “Our progress in addressing some of the world’s most significant health care challenges has resulted in increased demand for our medicines.”

The company also announced the resubmission of its biologics license application for lebrikizumab for the treatment of patients aged 12 years and older with moderate to severe atopic dermatitis that is not well controlled despite treatment with topical therapies.

This resubmission comes after the company received a complete response letter from the FDA in October 2023, which cited findings from an inspection of a third-party contract manufacturer that handles the drug’s monoclonal antibody substance.

While approved in the European Union and Japan under the name Ebglyss, the company awaits the FDA’s approval of lebrikizumab in the U.S. as a potential first-line biologic treatment following topical prescription therapies.