Lilly Revenues Down 11% in the Quarter

Lilly
1Q Revenues: $7.0 billion (-11%) 
1Q Earnings: $1.3 billion (-29%) 
Comments: Decline in revenues was driven by a 5% decrease due to lower realized prices, a 4% decrease due to lower volume, and a 2% decrease from the unfavorable impact of foreign exchange rates. The decline was driven by $1.47 billion in revenue from COVID-19 antibodies in 1Q22, with sales in the quarter down 100%. New Products contributed $573.6 million to revenue in the quarter. Growth Products revenue increased 18% to $4.6 billion. R&D expenses increased 23% to $1.99 billion, or 29% of revenue, primarily driven by higher development expenses for late-stage assets.
 
Trulicity sales were up 14% to $1.97 billion. Verzenio sales were up 60% to $751 million. Jardiance sales were up 38% to $577.5 million. Mounjaro sales reached $568.5 million in the quarter. Mounjaro launched in the U.S. for the treatment of type 2 diabetes in June 2022.Taltz sales were up 8% to $527 million. Humalog sales were down 25% to $460.9 million. Cyramza sales were up 3% to $236.8 million. Olumiant sales were down 10% to $228.9 million.