Fueled by its blockbuster drug tirzepatide, Eli Lilly delivered a stellar performance in 2024.

Eli Lilly and Company (LLY.US) released its 2024 financial results on February 6th (local time). The report showed that full-year revenue reached $45.043 billion, a 32% increase year-over-year, in line with the full-year performance forecast announced in January. Non-GAAP net profit for the year surged by 102% year-over-year to $10.59 billion. Looking at quarterly results, Eli Lilly’s revenue in the fourth quarter of 2024 was $13.533 billion, up 45% year-over-year, while net profit soared by 101% year-over-year to $4.41 billion.

Eli Lilly's significant performance growth is mainly attributed to the strong performance of several blockbuster products, with the most notable being tirzepatide — a once-weekly GLP-1/GIP dual agonist.

According to the financial report, Mounjaro, the type 2 diabetes indication of tirzepatide, surpassed the $10 billion sales mark in 2024, reaching $11.5401 billion with a year-over-year increase of 124%. Meanwhile, Zepbound, the weight loss indication of tirzepatide, also contributed $4.9257 billion in revenue.

Overall, the two indications of tirzepatide collectively generated $16.4458 billion in revenue for Eli Lilly, accounting for approximately 36% of the full-year total revenue.

Tirzepatide (Mounjaro®): Significant Advantages in the Treatment of Obesity

Tirzepatide offers significant advantages in the treatment of obesity. Multiple large-scale Phase III clinical trials, such as SURMOUNT-1 and SURMOUNT-2, have confirmed its remarkable efficacy in weight loss and improving metabolic indicators.

1️⃣ Dual Mechanism of Action 

Tirzepatide is a dual agonist of the glucose-dependent insulinotropic polypeptide (GIP) and glucagon-like peptide-1 (GLP-1) receptors. Its uniqueness lies in simultaneously activating these two receptors — it not only promotes insulin secretion after meals but also reduces appetite and fat accumulation, thereby forming a positive cycle in blood glucose control and weight loss treatment.

2️⃣ Significant Weight Loss Efficacy

Tirzepatide has demonstrated outstanding weight loss results in clinical trials. In the SURMOUNT-1 trial, obese patients treated with tirzepatide achieved an average weight loss of over 20%, with sustained weight reduction for nearly 4 years [1]. In another study, participants in the tirzepatide 15mg group had an average weight loss of 19.7%, compared to 18.7% in the 10mg group and 12.3% in the 5mg group — all significantly superior to the 1.3% weight loss in the placebo group [2, 3].

3️⃣ Improved Cardiovascular Health [4, 5]

Tirzepatide excels in reducing the risk of cardiovascular diseases. It can improve multiple cardiac health indicators, including systolic and diastolic blood pressure, as well as cholesterol levels, helping to mitigate cardiovascular risks associated with high cholesterol and hypertension.

4️⃣ Convenient Administration Regimen

Compared with some drugs requiring frequent injections, tirzepatide is long-acting and only needs to be injected once a week. This administration method significantly improves patient adherence, making it easier for patients to adhere to treatment in daily life.

5️⃣ Low Risk of Hypoglycemia [6]

Tirzepatide has a low risk of causing hypoglycemia when used alone. This is mainly attributed to its "glucose-dependent" property — it stimulates insulin secretion only when the patient’s blood glucose level rises.

6️⃣ Improved Insulin Sensitivity [7, 8]

Tirzepatide can significantly enhance insulin sensitivity and improve insulin effectiveness. This is crucial for the management of type 2 diabetes, helping to reduce patients’ reliance on other diabetes medications.

7️⃣ Broad Indications

Tirzepatide is not only indicated for patients with type 2 diabetes but also for those with obesity and overweight. Its weight loss efficacy is equally significant in non-diabetic patients.

In summary, tirzepatide offers significant weight loss efficacy, favorable safety profile, convenient administration regimen, and multiple health benefits in the treatment of obesity, making it an ideal choice for patients with obesity.

The future market demand for Tirzepatide (Mounjaro®) is expected to keep growing.

According to market analysis, the global weight loss drug market is expected to grow rapidly in the coming years. As a leading product, tirzepatide is poised to capture a significant market share, with the reasons analyzed as follows:

✅ Sustained Growth in Market Demand

Tirzepatide’s remarkable efficacy in weight loss and type 2 diabetes treatment drives sustained market demand. Despite Eli Lilly previously facing supply shortages of tirzepatide, demand remains strong as production capacity expands and market supply recovers. During the supply shortage period, generic drug manufacturers even produced copies of tirzepatide to meet market needs, further confirming its robust demand.

✅ Rising Prevalence of Obesity and Diabetes

The growing global population of patients with obesity and type 2 diabetes is one of the key drivers of tirzepatide’s market demand growth. According to data from the World Health Organization (WHO), the incidence rates of obesity and type 2 diabetes continue to rise worldwide, providing a vast market space for effective therapeutic drugs like tirzepatide.

✅ Significant Market Competitive Advantages

Tirzepatide holds distinct competitive edges in the market. Compared with other weight loss drugs, it delivers more pronounced weight loss effects, has fewer side effects, and offers higher patient adherence. Additionally, its dual mechanism of action (simultaneously activating GIP and GLP-1 receptors) endows it with unique advantages in blood glucose control and weight loss.

✅ Market Expansion and Indication Additions

Eli Lilly is actively expanding tirzepatide’s market application scope. Beyond its existing indications for weight loss and type 2 diabetes, tirzepatide is undergoing clinical trials for other indications, such as non-alcoholic steatohepatitis (NASH). This market expansion will further fuel its demand growth.

✅ Emerging Markets

Demand for tirzepatide in emerging markets is also on the rise. With economic development and lifestyle changes, the incidence of obesity and type 2 diabetes in emerging markets is increasing, presenting new market opportunities for tirzepatide.

In short, the future market demand for tirzepatide is expected to maintain steady growth. Leveraging its remarkable efficacy, competitive advantages, market expansion, and policy support, tirzepatide is well-positioned to occupy an important role in the global weight loss and type 2 diabetes treatment market.