2019 revenue: $22.32 billion
2018 revenue: $21.50 billion
Headquarters: Indianapolis, Indiana
Eli Lilly has spent years refocusing itself on new medicines and cost-cutting, and now the drugmaker is positioned for “top-tier” growth over the next few years, CFO Josh Smiley said at the start of 2020.
Altogether, the company pulled in $22.32 billion last year, and in the fourth quarter, 46% of its sales came from drugs launched since 2014. That’s a significant turnabout from years prior, according to analysts with Vantage.
Five years ago, 95% of the company’s sales came from older medicines. In the publication's ranking of pipeline "freshness," Vantage called Lilly's transformation a "standout performance."
Those new drugs include Type 2 diabetes med Trulicity, immunology drug Taltz, migraine-fighter Emgality and more. The company also launched migraine med Reyvow in early 2020.
Emgality, approved in 2018, has been racing against Amgen’s Aimovig and Teva’s Ajovy in the new CGRP migraine prevention field. Aimovig got the head start, but Eli Lilly execs have touted the company's “best-in-class” access. In 2019, the drug pulled in $162 million, a number that bested Ajovy's but fell short of Aimovig's.
Part of Lilly’s years-long transformation includes moving past recent losses of exclusivity. In recent years, Lilly has lost patent protections for erectile dysfunction drug Cialis and ADHD med Strattera. The company expects to lose exclusivity for osteoporosis drug Forteo this year.
Eli Lilly is also battling intense pricing pressure, especially for its insulins. Last year, the company’s list prices grew an average of 3%, while net prices fell 3.3%, according to an SEC filing. The trend underscores the growing rebates and discounts Lilly—like many drugmakers—pays to middlemen to score favorable formulary coverage for its drugs.