On August 7, Eli Lilly released its 2025 H1 financial report, reporting revenue of $28.2862 billion for the first half of the year, a 41% year-on-year increase. Among pharmaceutical giants that have disclosed earnings, Lilly ranked 6th in total revenue and 4th in pharmaceutical revenue, a significant change from the same period in 2024.
Lilly is currently focused on four major therapeutic areas: diabetes, oncology, immunology, and neuroscience. Diabetes remains its core business. With flagship products like dulaglutide and tirzepatide, Lilly’s leadership in the diabetes field remains unshakable. Four key products—Trulicity (dulaglutide), Mounjaro (tirzepatide), Humalog (insulin lispro), and Jardiance (empagliflozin)—contributed a combined $13.9728 billion in revenue, accounting for 49% of the company’s total revenue.
Once a blockbuster drug for diabetes, Trulicity peaked at $7.44 billion in 2022 but has since declined. Its 2024 revenue dropped to $5.2535 billion (-26%), and in H1 2025, revenue further fell to $2.1874 billion. It's unlikely to surpass $5 billion this year.
The new-generation GLP-1 drug, tirzepatide, has taken over. The diabetes version, Mounjaro, became a "super blockbuster" in its third year on the market, becoming Lilly’s first product with annual sales exceeding $10 billion. In H1 2025, Mounjaro maintained momentum, growing 85% to $9.0407 billion.
The weight-loss version, Zepbound, also performed impressively, with H1 sales of $5.6933 billion, a 223% increase. It’s on track to become Lilly’s second "super blockbuster" this year. By year-end, Zepbound may gain approval for a third indication—heart failure with preserved ejection fraction (HFpEF)—providing additional growth potential.
Notably, in Q1 2025, the prescription share of Lilly's GLP-1 products in the U.S. surpassed Novo Nordisk’s (53.3% vs. 46.1%). This lead further expanded in H1 (57.0% vs. 42.5%). Combined H1 sales of Mounjaro and Zepbound reached $14.734 billion, narrowing the gap with semaglutide’s total sales ($16.683 billion). If this trend continues, tirzepatide could become the new global “King of Drugs” in 2025.
In oncology, flagship product Verzenio (abemaciclib) continued strong growth with H1 revenue of $2.6482 billion (+11%). It could set a new peak for CDK4/6 inhibitor sales by year-end.
In H2, Lilly expects additional milestones, including results from a second Phase III weight-loss trial for Orforglipron (ATTAIN-2).
In H1 2025, Lilly was active in business development, securing 12 partnerships with various biotech firms focused on tech platforms and products, totaling over $5 billion. It also acquired three companies: Verve Therapeutics, SiteOne Therapeutics, and Scorpion Therapeutics, with a total acquisition cost of $4.8 billion.
Lilly has raised its full-year revenue forecast from $58–61 billion to $60–62 billion.
