Lilly Q3 2025 Financials: Revenue Up 54%, R&D Progress, Guidance Raised
- Q3 2025 revenue rose 54% to $17.60 billion, driven by a 62% volume increase.
- U.S. revenue increased 45% to $11.30 billion, with a 60% volume rise.
- Revenue outside the U.S. grew 74% to $6.30 billion, aided by a 66% volume increase.
- Revenue included $200 million from Jardiance milestone and $180 million from Cialis rights divestiture.
Financial Performance
Eli Lilly reported a 54% increase in Q3 2025 revenue, reaching $17.60 billion, primarily due to a 62% rise in volume. U.S. revenue grew 45% to $11.30 billion, driven by a 60% increase in volume, though offset by a 15% decrease in realized prices. Revenue outside the U.S. surged 74% to $6.30 billion, with a 66% volume increase and a 6% favorable impact from foreign exchange rates.
Key Products and Contributions
Key products, including Mounjaro and Zepbound, contributed significantly to revenue, with Mounjaro driving volume increases outside the U.S. The quarter also included a $200 million sales-based milestone payment for Jardiance and $180 million from the divestiture of Cialis rights in select markets outside the U.S.
Research and Development
Lilly advanced orforglipron through four additional Phase 3 trials, aiming for global obesity submissions by year-end. The company also achieved U.S. FDA approval for Inluriyo (imlunestrant), marking significant progress in its R&D pipeline.
Manufacturing Expansion
Lilly announced plans to increase manufacturing capacity with new facilities in Virginia and Texas, alongside an expansion of its site in Puerto Rico, to support growing demand and future product launches.
Source: Lilly